Analysis of harvest prices by August 11: The world market froze in anticipation of rising prices

Published 2023년 8월 11일

Tridge summary

The price of wheat is on the rise due to factors such as increased bidding activity and reduced harvest estimates in the European Union. India is also considering large-scale wheat purchases. In the Russian market, the price of wheat is being driven up by a rising dollar and delayed increase in grain prices, while increased export duties are causing prices to decrease. Barley prices are also increasing due to rising demand in China and Saudi Arabia, while the price of corn is being influenced by factors such as crop estimates and export duties. In the sunflower market, a decrease in harvest and export potential in Ukraine is expected to affect prices, while falling prices for soybean and soybean complex are pulling down prices for sunflower oil.

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: Bidding activity leads to higher prices: the State Food Purchasing Company of Egypt (GASC) once again purchased a batch of wheat of Russian origin (235 thousand tons) at a price of $ 262-265 per ton with deferred payment ; Analysts reduce estimates of the gross wheat harvest in the European Union by 1.5 million tons, to 124.7 million tons (in the 2022/2023 season - 125.3 million tons); Due to rising prices, India is considering large-scale purchases of wheat - up to 9 million tons. Factors leading to lower prices: Increased forecasts for the harvest of wheat and barley in Ukraine against the backdrop of favorable weather conditions; Turkey's initiative to return to the "grain deal" in an expanded format. Russian market Factors leading to price growth: Rising dollar; Agricultural producers took a wait-and-see attitude against the backdrop of a delayed increase in grain prices in ports. Factors leading to lower prices: Increase in ...

Source: Zol