Grain market. Russia // Week 5
In Russia, players note a decrease in export quotes for milling grains and an upturn in feed prices. This trend generally reflects the level of export potential for corresponding grains in the country.
In Russia, players note a decrease in export quotes for milling grains and an upturn in feed prices. This trend generally reflects the level of export potential for corresponding grains in the country.
In Brazil, the delay in safrinha corn planting is supporting relevant quotes. As of January 28, planting of safrinha was 3.9% complete vs. 14.5% as of the same date last year, Conab reports.
The Australian grain export market has been stable this week. Farmers are expected to step up grain sales as they begin to buy fertilizers for the next planting.
Prices for US wheat have increased on fears that a cold snap could damage the crop. According to the USDA, the state of winter wheat crops has improved in Kansas (the largest producer state), while crop state has worsened in Oklahoma (producer No. 3).
EU grain suppliers have raised export prices due to quite strong importers’ demand and brisk shipments.
The Ukrainian grain export market continues showing mixed price trends in late January-early February. Traders’ attempts to sell as much agri products as possible by sea before the next prolongation of the Grain Initiative supported domestic prices and put pressure on export quotes.
The return of dry weather to Argentina and increased Chinese demand after the holidays supported prices on the US soybean market.
Grain exports from Great Odesa ports, thousand tonnes
Demand for US-origin soybeans is slackening, as the new crop soy is going to appear in the market soon. At the same time, prices have grown this week after both production and export estimates dropped in the USDA’s Jan report.