Russia: Analysis of harvest prices by February 2 as active demand for corn and barley

Maize (Corn)

Published Feb 3, 2024

Tridge summary

Grain export prices in Russia have remained stable over the past week, with record exports of barley to Iran, Algeria, and Tunisia expected this season. High demand from importing countries keeps corn prices high, while the soybean market is trending upwards. Sunflower costs are under pressure due to declining global sunflower oil prices. Despite these fluctuations, purchasing levels at Russian ports remain stable. Meanwhile, soybean meal prices in Russia are stable, with soybean oil, primarily sold for export, providing comfortable profit margins.

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

Export prices for grains remained at a stable level over the past week. Nevertheless, active shipments of barley to Iran, Algeria, and Tunisia allow us to expect record exports of this crop this season. Corn prices remain high, supported by demand from importing countries. The soybean market continues to show an upward trend, and the cost of sunflower is under pressure from the decline in world prices for sunflower oil. World market Factors leading to rising prices: Factors leading to lower prices: Russian market Factors leading to rising prices: Factors leading to lower prices: Summary: The increase in export duties and the decrease in world prices for wheat, including on the Black Sea basis, are offset by the strengthening of the dollar. Despite fluctuations in factors, exporters in Russian ports keep purchasing levels at a stable level - around 14,000 rubles per ton excluding VAT. Potential growth is limited by relatively low demand, which was partly confirmed by weak shipments ...

Source: Zol