Analysis of world market prices by March 3: Russian soybeans are on the rise

Published 2023년 3월 4일

Tridge summary

a mixed trend, with factors such as the potential entry of India into the wheat import market, concerns about winter crops, and the decline in global prices leading to higher prices, while factors like export duties, quota mechanisms, and the strong dollar contributing to lower prices. The global market for barley, corn, and sunflower is also impacting Russian market prices, with concerns about crop prospects in Argentina and Indonesia, and the availability of large volumes of raw materials affecting sunflower prices. Overall, soybean prices in Russia are influenced by both global and local factors, with no significant factors contributing to price reduction at the moment.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

WHEAT World market Factors leading to higher prices: Possible entry of India into the import market of wheat: the need to replenish stocks amid the negative impact of the weather on the future harvest in the country; The rhetoric around the “grain deal”: Russia may refuse to renew on current terms. Factors driving prices down: Improvement in US winter wheat amid growing snow cover; Consistent drawdown of prices on new tenders despite significant volumes of demand (in Turkey, Iran, etc.). Russian market Factors leading to higher prices: Growing concerns about the state of winter crops, despite positive assessments from the Hydrometeorological Center (the share of crops in good and excellent condition is more than 95%). Factors leading to lower prices: The decline in world prices and the increase in duties have a leading effect on domestic prices, despite the growth of the dollar; The quota mechanism limits demand from exporters, narrowing the list of potential buyers. Summary: ...

Source: Zol