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Analysis of harvest prices in Russia by March 24

Updated Mar 24, 2023
WHEAT World market Factors leading to higher prices: Strong exports from France despite strikes. Factors leading to lower prices: The beginning of the holy month of Ramadan in Muslim countries will lead to a noticeable decrease in demand; Weather conditions are predominantly favorable for crops in the USA, Europe; Large importing countries are switching to the purchase of a new crop (with delivery in June-July) at lower prices. Russian market Factors leading to price increases: Possible initiatives of the Ministry of Agriculture of the Russian Federation: purchase of up to 7 million tons of grain to the state fund during 2023 and recommendations to exporters to suspend exports amid falling world prices; Extremely active export rates from Russia in March. Factors leading to lower prices: Excessive supply from farmers puts pressure on the market, in the Central Federal District and Volga Federal District, domestic buyers reduce purchase prices against the backdrop of sufficient ...
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