News

Russia: Analysis of crop prices by April 12, exports remain at a high level

Wheat
Nuts & Seeds
Sunflower Seed
Published Apr 13, 2024

Tridge summary

The Russian agro-industrial complex is witnessing stable exports of key crops like wheat, barley, and corn, driven by steady demand and favorable global market conditions, despite challenges such as high domestic inventories and competition. Meanwhile, the sunflower oil market is experiencing price fluctuations due to factors like production decreases in Turkey, changing import demands from countries like Egypt and India, and varying stock levels in Iran. These dynamics are influenced by both domestic factors, including high sunflower reserves and processing margins, and international demand shifts, particularly ahead of seasonal religious events, leading to an overall increase in sunflower oil costs in March.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Steady demand from key importers provides the Russian agro-industrial complex with stable exports of wheat, barley and corn. Against the background of lowered harvest forecasts in other countries, such as Argentina, this suggests a further continuation of high export rates. Factors influencing the global market for sunflower oil and soybeans play into the hands of oilseed producers in Russia, despite forecasts for a new record gross soybean harvest. WHEAT World market Factors leading to higher prices: According to the April report of the US Department of Agriculture (USDA), world wheat reserves in the 2023/24 season will decrease by 600 thousand tons compared to the previous estimate - to 258 million tons (-5% compared to the 2022/23 season ). Factors leading to lower prices: Continued reduction in grain purchases by China: previously contracted volumes of wheat from Australia and the USA and corn from Ukraine were cancelled. Active sowing rates in Russia and Ukraine against the ...
Source: Zol
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