Analysis of global grain and bean harvest prices by July 21
Published Jul 22, 2023
Concerns about the supply of wheat and barley from the Black Sea region, as well as dry conditions in Canada, have driven up wheat prices. On the other hand, the extension of the ban on Ukrainian grain imports by Eastern European countries has led to lower prices. Slow harvesting of the new crop and a decrease in active export trade are driving up prices in the Russian market for wheat, barley, and corn. However, the growth of ruble prices for barley and corn has exceeded initial expectations, while sunflower prices in the Russian Federation show mixed dynamics depending on the region.
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.
WHEAT World market Factors driving up prices: Concerns about the supply of wheat and barley from the Black Sea region due to Russia's withdrawal from the "grain deal"; The International Grains Council cut its forecast for world wheat production in 2023/24 by 2 million tons to 784 million tons; Persistence of dry conditions in Canada. Factors leading to lower prices: Eastern European countries intend to extend the ban on the import of Ukrainian grain until the end of the year to protect their own market - this will create an excess supply in Ukraine. Russian market Factors leading to price growth: Duty reduction for the coming week; Slow harvesting of the new crop due to rains is holding back supply to the market. Factors leading to lower prices: Decrease in active export trade due to possible logistical difficulties. Summary: Against the backdrop of Russia's withdrawal from the "grain deal" and mutual claims with Ukraine, which could lead to disruptions in export shipments by sea ...