Russian Grain Markets: 25–29 March 2024 Last week, the Russian domestic grain market was volatile. Most of the grains were recovering following global trends and demand in the export zone of Russia. However, even with zero duty which lasted only one week, feed corn continued losing ground. A weaker RUB is part of the reason why domestic prices have gone upwards. Intervention purchases resumed on 27 March, however, this did not have any visible effect on the market. Last week, only 45,800 MT were purchased by the government. No sooner had prices started to recover than the government came back with higher export duties which means the recovery process may become a challenge in the near future. Export duty levels for 3-9 April recover...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Black Sea, Russia