Wheat prices slightly strengthened during the week in the Kursk and Voronezh regions, however, in general, the low activity of exporters and the expectation of a new harvest do not give rise to optimism. Barley prices are also under serious pressure. Soybeans and sunflower seeds are declining in price against the background of the supply of raw materials for factories and falling prices for sunflower oil on world markets. Maize has grown in price, but its price weight in the short term may be affected by a record harvest in Brazil.
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WHEAT World market Factors leading to higher prices: Dry conditions in Canada and Argentina, satisfactory condition of wheat in the USA. Factors leading to lower prices: Approaching harvest campaign, seasonal decline in import demand; "Optimistic" forecasts on the results of negotiations on the grain deal, waiting for the "bearish" report of the US Department of Agriculture (USDA) with a forecast for the next season. Russian market Factors driving up prices: Willingness of farmers to store wheat (purchase of sleeves). Factors leading to lower prices: Approaching harvest campaign, high carry-over stocks; Türkiye is considering a ban on wheat imports. Summary: In the wheat export market, purchase prices in ports remain in parity with the calculated levels, which explains the lack of dynamics over the past 2-3 weeks. The decrease in the FOB price is compensated by the strengthening of the exchange rate and the lowering of the duty rate. Despite the high line-up (more than 1.5 million ...
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