Russia: Exports are at record levels, but the season is ambiguous, says Dmitry Rylko; how ICAR evaluates the 2023/24 grain season

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Feb 13, 2024

Tridge summary

Despite weather and political challenges, Russia is set to dominate the global grain market with potential record exports of up to 65 million tons this season, according to the Russian Ministry of Agriculture. Meanwhile, Ukraine has managed to export over 500 thousand tons of corn to China in December and January, despite market limitations and China's record grain harvest. However, both countries face potential hurdles such as weather-related losses, lower-than-expected price increases, government regulation, expensive logistics, and strict phytosanitary requirements.

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

Russia holds the grain mark on the world market, despite weather and political difficulties. The general director of the Institute told the field.rf magazine about how grain exports will develop in the second half of the season, which countries are becoming leaders in the consumption of Russian wheat, barley, peas and corn, and how the structure and quality of the harvest in the Russian Federation may change in 2024. conditions of the agricultural market (IKAR) Dmitry Rylko. — Dmitry Nikolaevich, the current season (from July 2023 to June 2024 – editor’s note), according to preliminary forecasts of the Russian Ministry of Agriculture, will be a record for grain exports. Exports could reach 65 million tons. What are ICAR's estimates and what factors may have the greatest impact on exports? — Exports are at record levels, but the season is, to put it mildly, ambiguous. Our extreme forecast was 68 million tons, but it is quite possible that it will be 65 million tons. Several factors ...

Source: Zol