World: Analysis of harvest grain and prices by March 17

Published 2023년 3월 20일

Tridge summary

The article provides an overview of the current market trends and factors impacting the prices of key agricultural commodities such as wheat, barley, corn, sunflower, and soybeans. It highlights the influence of various factors including weather conditions, grain production forecasts, the extension of grain deals, competition in the corn market, harvest results, and the bearish trend in alternative oils and oil markets. In Russia, the official confirmation of a record harvest and the protective export duty on sunflower oil are noted as pressures on the market. The article also mentions the significant influence of Argentina's low soybean production and Brazil's high production on the soy complex market, as well as concerns about the US stock market and its impact on futures and spot markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat Barley Corn Sunflower Soybean WHEAT World market Factors leading to higher prices: Risks for winter wheat amid drought in the US and Europe; Forecasts for a reduction in grain production in Germany in 2023 (-2% yoy). Factors leading to lower prices: Purchase of Ukrainian wheat at the Egyptian GASK tender with a significant discount; Extension of the grain deal for 60 days. Russian market Factors leading to price growth: No significant factors were noted. Factors leading to lower prices: Extension of the "grain deal" for 60 days. Summary: Purchase prices of exporters for wheat are at a parity level relative to the calculated values. Further devaluation of the ruble will actually be compensated in parallel by an increase in the duty. Nevertheless, the forecast trend, according to the expectations of market participants, is to decrease. On the eve of the new harvest (the first cuts may start in three months) and taking into account the accumulated stocks, bearish tendencies ...

Source: Zol