Russian Grain Markets: 14-18 June 2021 The influence of the 2021 yield on the Russian market increased as harvesting progressed in the south of Russia. Today, the export duty remained unchanged for feed barley but grew for wheat and corn:
Wheat export duty: $38.1/MT @ $254.5/MT
Barley export duty: $39.6/MT @ $241.7/MT
Corn export duty: $ 50.2/MT @ $256.8/MT
Thus, we can forecast decrease of bid prices from exporters for 2021 yield grain. On the other hand, domestic prices in the south of Volga-Valley region, southern Ural, and western Siberia may go up due to very dry and hot weather. Meanwhile, the export milling wheat average price decreased to $258/MT FOB Black Sea. The average purchase price decrea...
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...