Russia: Wheat harvest in Siberia will be more than last year, and prices will be lower

Published 2021년 3월 4일

Tridge summary

The article provides an overview of the agricultural market in Russia, with a focus on grain exports, harvest projections, and crop conditions. It highlights the increased wheat exports due to heightened demand from countries like China, Turkey, and Egypt, resulting in a decrease in remaining export stocks. The government's plans to reduce grain exports in the spring do not align with some market experts' predictions of a significant decline in exports, and the article discusses the improved condition of winter crops in various regions, leading to mixed forecasts on the wheat harvest. Additionally, the article touches on the potential impact of high prices and possible export duties on linseed and rapeseed, as well as the anticipation of higher wheat prices due to market trends and upcoming floating duties.

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

Original content

Export Predicting the harvest and prices for six months in advance is a thankless task, but specialists can do it by analyzing the balance of grain, the state of winter crops, exchange futures and other market indicators. Let's go with them on this exciting journey. To talk about the future price, you need to know the balance of supply and demand in the world market, because it is this that determines the cost of grain in Russia, which is the largest exporter of bread. According to Dmitry Rylko, Director General of the Institute for Agricultural Market Studies, IKAR, much more wheat was exported this season than in the past. This happened due to increased demand from China, Turkey, Egypt. There is less left for export from Russia than before - 6.6 million tons. If there is a good demand for our customers, then there may be tension in the market, since our main competitors, Ukraine and the EU, have even less stocks. According to the head of the analytical center of JSC ...

Source: Agrovesti