Russian Grain Markets: 16–20 October 2023 As of 20 October, Russian farmers harvested grains and pulses from 44.6 Mha which is in line with last year (44.5 Mha), averaging 3.08 MT/ha versus 3.33 MT/ha, a record-breaking year in Russian history. Interestingly, Russia first reports the bunker weight which means grain harvested but not cleaned or graded and only later in the season updates the market with the real figure. Currently, statistics show 137.2 MMT of grains in bunker weight versus 148.1 MMT a year ago. Specifically harvested was:
Wheat: 28.5 Mha vs 29.1 Mha – averaging 3.26 MT/ha vs 3.59 MT/ha – producing 93.1 MMT vs 104.2 MMT Barley: 7.8 Mha vs 7.9 Mha – averaging 2.8 MT/ha vs 3.07 MT/ha –...
Key Market Insights Macros: Inflation isn’t cooling — it’s moving higher again. March PCE inflation (Personal Consumption Expenditures index — the Fed’s preferred measure of inflation) rose 0.7 percent month-over-month, pushing the annual rate to 3.5 percent, the h...
An amendment to the U.S. House farm bill, aiming to remove the Save Our Bacon Act language in Section 12006 that would have stripped language to prohibit California’s Proposition 12, Massachusetts’ Question 3, and up to 500 state agricultural laws across the country, was blocked by...
What Matters Today... Fed holds rates steady as inflation uncertainty tied to the Iran conflict pressures equities and supports broader commodity risk premia Biofuel demand accelerating globally, with U.S. imports of used cooking oil and strong soyoil demand reinforcing upside across the soy c...
