Crop price analysis for September 13 in Russia: Corn outperforms feed wheat

Published 2024년 9월 14일

Tridge summary

The article provides an overview of the Russian agricultural market, focusing on the impact of weather conditions and market dynamics on key crops such as corn, wheat, barley, sunflower, and soybeans. It highlights the effects of drought and weather anomalies on crop yields and quality, which in turn influence prices and market trends.

Corn prices have increased due to drought, making it more expensive than feed wheat. Wheat, despite potential crop declines and farmer reservations on sales, remains profitable and is in high demand for export. Barley exports are continuing at high rates, strengthening prices, and ruble quotations, with the potential for further growth. Sunflower crop quality is high despite weather challenges, and the market is experiencing growth due to a deficit balance at the start of the season and rising global oil prices. Soybeans with high protein content are in high demand, with purchases reported above 46,000 rubles per ton with VAT (CPT), while average purchase prices are maintained at 45,000 rubles per ton with VAT (CPT) by oil mills.

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

Original content

The decline in corn yields due to drought has led to an increase in prices for the crop on the domestic market, as a result of which it is traded more expensively than feed wheat. Export shipments of barley are not slowing down, but the possible return of the export duty may affect quotes. The quality of the new sunflower crop is one of the highest in recent years, despite weather anomalies, and high competition for raw materials between processors determines price dynamics on the market. World market Factors leading to price growth: Factors leading to price reduction: Russian market Factors leading to price growth: Factors leading to price reduction: Summary: Wheat prices in Russian ports tended to grow against the backdrop of some strengthening of the dollar exchange rate and continued increased demand. On the world market, Russian wheat is obviously more profitable compared to European or American, which ensures high rates of shipments, despite the decline in crop potential and ...

Source: Zol