World prices for wheat and corn have been fluctuating, while rice has become cheaper. Let's analyze the grain prices in Russia and CIS countries for the past week.

Cereals

Stern

Winter crops

Wheat

World prices for wheat and corn have been fluctuating, while rice has become cheaper. Let's analyze the grain prices in Russia and CIS countries for the past week.

World grain prices have fluctuated: wheat on CBOT increased to 542.50 cents/bushel, on KCBT - to 537.25 cents/bushel, on MGE - decreased to 568.50 cents/bushel. Corn on CBOT rose to 430.75 cents/bushel, rice - $15.09 per hundredweight.

In Russia, prices have also risen: wheat to $234, barley to $197.80, corn to $227.20 per ton.

9 December 2024

During the past week, from November 29 to December 6, 2024, global wheat prices fluctuated. Prices for:

winter wheat (soft red) on the Chicago Board of Trade (CBOT, ZW) increased to 542.50 cents/bushel (+1.93%);
winter wheat (hard red) on the Kansas City Board of Trade (KCBT, KE) rose to 537.25 cents/bushel (+3.17%);
spring wheat (hard red) on the Minneapolis Grain Exchange (MGE, MWE) decreased to 568.50 cents/bushel (-0.70%);

Contracts for corn on the Chicago Board of Trade (CBOT, ZC) rose to 430.75 cents/bushel (+1.83%). The price of rice on the Chicago Board of Trade (CBOT, ZR) fell to $15.09 per hundredweight (-0.85%).

Indicative prices of Russia (FOB Black Sea):

wheat increased to $234.00 per tonne (+2.32%);
barley rose to $197.80 per tonne (+5.95%);
corn increased to $227.20 per tonne (+4.36%);

The Russian wheat index, CPT Novorossiysk, fell to 18055 rubles/tonne (-2.20%).

Procurement prices for 4th class wheat with 12.5% protein at port elevators of the Black and Azov Seas for the reporting period:

Azov - 15500 (+300) rubles/tonne
Novorossiysk - 18950 (-200) rubles/tonne
Rostov-on-Don - 15500 (+300) rubles/tonne
Taganrog - 15800 (+600) rubles/tonne
Taman - 17200 (-700) rubles/tonne

GRAIN MARKET NEWS

• Weekly review of grain market news (02.12-08.12.2024)

• The gross grain harvest in Russia amounted to 132 million tons, which is 19.3 million tons less than on the same date last year. 97.7% of sown areas were harvested, with a yield of 28.2 centners/hectare (31.6 c/ha last year). In particular, 87.7 million tons of wheat were harvested (-10.9 million tons), 17.9 million tons of barley (-4.9 million tons), 12.9 million tons of corn (-1.4 million tons).

• The Ministry of Transport proposes to experiment with the use of the state information system of electronic transportation documents for grain transportation in 2025. The experiment aims to reduce costs associated with paper processing.

• The quota for importing seeds from unfriendly countries to Russia has not been fully utilized. The seed import quota was introduced in February 2024 and ends on December 31, 2024. The quota applies to seeds of potatoes, barley, corn, sunflower, sugar beets, but not to wheat, rye, and soybeans.

• Russian agricultural machinery manufacturers reduced domestic sales by 16.5% in the first 10 months. The production volume of domestic agricultural machinery decreased by 12.6% in January-October 2024. Significant decline in production was recorded in key market segments such as grain combines and agricultural tractors.

• The situation with winter crops in Russia this year is not the best, but not critical, according to Deputy Prime Minister D. Patrushev. He suggests that winter crops can be replanted with spring crops. The total area of winter crops should be around 20 million hectares this year, in line with last year's figures.

• IKAR forecasts that the wheat harvest in 2025 will be less than 80 million tons if the weather does not cooperate. According to Roshydromet's assessment, 37% of sown winter crops are in poor condition or have not sprouted. Earlier, Rosselkhozbank reported a forecast for grain harvest in Russia in 2025 of over 139.5 million tons (a 7% increase compared to 2023). The analytical center "Rusagrotrans" predicts grain production volume next year at 133 million tons, including 84.5 million tons of wheat, exceeding the forecasts for 2024. "SovEcon" in November raised the wheat harvest forecast for 2025 to 81.6 million tons. This is due to a new estimate of the winter wheat harvest, which is 1.5 million tons higher than the previous estimate.

• Work on creating a BRICS grain exchange concept will begin in 2025 under the leadership of the deputy head of the Russian presidential administration M. Oreshkin together with the Ministry of Economic Development.

• The share of insured sown areas in Russia is expected to be at 17.3% in 2024 and is planned to be increased to 20% in 2025.

• Customs duties on all grain crops will increase again from December 11, 2024.

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World prices for wheat and corn have been fluctuating, while rice has become cheaper. Let's analyze the grain prices in Russia and CIS countries for the past week.

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