Russia's analysis of harvest prices by December 8th with sunflower and soybeans are stable

The slowdown in exports from the ports of the Azov-Black Sea basin will create pressure on quotes due to the accumulation of supply. The condition of winter crops in Russia is excellent; the share of areas in poor condition is only 4%, which is 2 times lower than the 5-year average. The estimated level of domestic prices (CPL) continues to grow, both against the backdrop of a strengthening dollar and due to rising world prices for wheat. In particular, the price level on the FOB Novorossiysk basis was supported by new purchases within the framework of the Egyptian tender, as well as due to an increase in quotations in other export regions. The situation with the future corn harvest in the Southern Hemisphere adds to the uncertainty, which may result in increased demand for wheat. Despite the expected change in the export duty, which will increase in the near future, actual purchase prices by exporters have every reason to increase. Weak demand for European barley. Slight increase ...