Russian Grain Markets: 8–12 July 2024 Russian grain markets remained unmistakably bearish which is tradition at the peak of grain harvesting campaign. Even though this year’s crop is quite modest compared to the past several seasons, the pressure on prices is significant because of ample stocks and carryover. Moreover, this season’s grain harvesting campaign started a bit earlier because of hot weather early in the season which allowed t crops to mature ahead schedule. For comparison, a year ago at this time Russia only harvested 13.5 MMT of grains and now we are talking about 38.66 MMT. This is almost 25 MMT of grain appearing earlier than usual on the market. This will put pressure on farmers as traders have literally u...
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...
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Accountability and a comprehensive approach to export programming
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