World: Analysis of crop prices by February 16, increased competition for soybeans

Wheat

Ukraine

Sunflower Seed

South Korea

Published Feb 17, 2024

Tridge summary

Wheat prices are falling due to increased supply from other countries, but the rising dollar exchange rate is offsetting this decline. The barley market is stable, while sunflower prices are fluctuating slightly. Despite a drop in global prices, the demand for high-protein soybeans is keeping the market stable. Factors such as reduced winter wheat sown areas in France and cheaper wheat from Ukraine and Romania are impacting wheat prices. Corn prices are dropping due to favorable weather in Brazil and Argentina. Sunflower oil prices are influenced by decreased palm oil reserves in Malaysia, increased shipment volumes from Russia, declining import demand from India and Turkey, and high sunflower processing rates in Russia.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Purchasing prices for wheat are declining due to increased supply from competing countries, but the rising dollar exchange rate makes it possible to compensate for this negative trend. The barley market did not follow the wheat market and remained stable; sunflower prices showed minimal fluctuations. Competition between processors for high-protein soybeans is growing, which helps maintain stability despite declining global prices. WHEAT World market Factors leading to higher prices: Reduced estimates of winter wheat sown areas in France due to the negative impact of weather (rainfalls) - to 4.4 million hectares, which is 7.7% lower than the level by 2023. Factors leading to lower prices: Purchase at the Egyptian tender of 180 thousand tons of wheat from Ukraine and Romania at a price of $255 per ton CIF, which is $30 cheaper than the January tender. Russian market Factors leading to rising prices: Maintaining the trend towards strengthening the dollar exchange rate. Factors ...

Source: Zol