News

Analysis of global harvest prices on November 10

Sunflower Seed
Algeria
Market & Price Trends
Wheat
Argentina
Published Nov 11, 2023

Tridge summary

Factors leading to rising prices in the world market for wheat include weather conditions affecting winter crop sowing in the European Union and reduced forecasts for the wheat harvest in Argentina. In the Russian market, rising military risks in the Black Sea are contributing to price increases. Factors leading to lower prices include large purchases at tenders in Algeria and Saudi Arabia.

For barley, the situation in the world market has not experienced significant changes, with no obvious supporting factors for price increases. In the Russian market, increasing military risks in the Black Sea are pushing prices higher, while extremely weak lineups in November may lead to price reductions.

In the world market for corn, lower crop estimates in Brazil are leading to higher prices, while increased crop and harvest estimates in the US, Russia, and Ukraine are pushing prices lower. In the Russian market, high export demand for corn is contributing to higher prices, while increased harvest estimates and export potential are leading to lower prices.

Lastly, in the world market for sunflower, active demand for sunflower oil is driving prices higher, while an increased forecast for sunflower production in Ukraine is pushing prices lower. In the Russian market, a decrease in the volume of offers for sale is contributing to rising prices. Overall, corn prices are expected to remain under pressure while wheat and barley prices may see slight fluctuations.
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

WHEAT World market Factors leading to rising prices: Problem with sowing winter crops due to weather conditions in the countries of the European Union, in particular France and Germany. Reduced forecasts for the wheat harvest in Argentina. The Rosario exchange lowered its estimate from more than 15 million tons to 13.5 million tons. The US Department of Agriculture (USDA) predicts a decrease in the overall forecast for world wheat production due to India, Kazakhstan, and Argentina. The harvest estimate in Russia, on the contrary, has been increased from 85 to 90 million tons. Factors leading to lower prices: Large purchases at tenders in Algeria and Saudi Arabia (580 thousand and about 700 thousand tons, respectively). Russian market Factors leading to rising prices: Increasing military risks in the Black Sea. Factors leading to lower prices: Winter sowing has been completed by 98%, sowing targets have been exceeded in the Central and Volga Federal Districts. Summary: Against the ...
Source: Zol
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