Russian Grain Markets: 7-11 June 2021 Russian domestic grain markets have heard the first trumpets of the new crop approach. However, bearish sentiments are already here while harvest may be slightly delayed due to a late spring. The bear has been moving slowly but steadily north and now Black Soil region is copying the bearish pattern of south Federal District which has been on this track for a couple of weeks. Among negative trends are the introduction of the export duty, a bearish world market mood, and RUB appreciation. The only factor which can be mathematically calculated and appreciated is the export duty which will change starting today, but that news alone already had its effect on the market. In particular:
Wheat export dut...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
