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: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
