Forkagro Pixel
World wheat prices are rising: Soft +9.63%, Hard +11.13%, Spring +7.77%. An increase in exports is expected.
Cereals
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Winter crops
Wheat

World wheat prices are rising: Soft +9.63%, Hard +11.13%, Spring +7.77%. An increase in exports is expected.

World prices for wheat are rising: soft winter +9.63%, hard winter +11.13%, hard spring +7.77%. Maize +1.50%, rice -1.00%.

In Russia, prices are decreasing: wheat -0.09%, barley -2.39%, maize +2.00%.

Sales of agricultural machinery are increasing, but volumes are decreasing due to low incomes of farmers.

29 April 2024 29 April 2024

During the reporting week, from 19.04.24 to 27.04.24, there was an increase in global wheat prices. Prices for different types of wheat rose as follows:

Contracts for corn on the Chicago Board of Trade (CBOT, ZC) rose to 440.00 cents/bushel (+1.50%). The price of rough rice in Chicago (CBOT, ZR) decreased to $18.81/cwt (-1.00%).

Russian indicative prices (FOB Black Sea) are as follows:

  • Wheat decreased to $234.80/ton (-0.09%);
  • Barley fell to $171.20/ton (-2.39%);
  • Corn increased to $168.20/ton (+2.00%);

The Russian wheat index, CPT Novorossiysk, increased to 14216 rubles/ton (+3.16%).

Domestic purchase prices for 4th class wheat with 12.5% protein at the Black Sea and Azov Sea elevators during the reporting period are as follows:

Sales of agricultural machinery continue to increase in monetary terms, as reported by the magazine Kommersant. However, shipment and production volumes are decreasing in almost all market segments. According to the company "Rosspecmash," the quarter's results are disappointing due to low farmer incomes, which negatively impact demand.

Quotations for 4th class wheat with 12.5% protein in deep-water ports rose by 300 rubles in a week, reaching 13500-14000 rubles/ton. This is the highest level since September 2023 and exceeds the prices of the 2022/23 season (13200 rubles/ton), as reported in the "Rusagrotrans" report.

Favorable conditions for the growth and development of winter grain crops are noted in the Central, Volga, and Northwestern Federal Districts. However, in some areas of the Southern and North Caucasus Federal Districts, high temperatures and lack of precipitation are observed, which may lead to soil moisture depletion and hinder plant emergence, warns the Hydrometeorological Center.

The major Russian grain exporter, LLC TD "RIF," has decided to change its name to LLC "Rodnye Polya" (Native Fields). According to the press service, this decision was made in connection with the organization's development and a better reflection of its business model and strategic goals in the development of Russia's agro-industrial complex. Previously, the company temporarily halted exports due to non-compliance with phytosanitary requirements. The company's owner also reported an attempted raider takeover by a competitor - the grain trader "Demetra-Holding."

Grain exporters are requesting an extension of the validity period of phytosanitary certificates from 30 to 60 days, with the possibility of a one-time extension. Currently, companies are unable to deliver their products by rail to China within 30 days.

Starting from May 6, 2024, customs duties on wheat and barley will be reduced, while duties on corn will remain unchanged.

On the state intervention fund, following trading on the NTB from 11.12.2023 to 27.04.2024, 1027.5 thousand tons of grain were purchased for 14656.3 million rubles.

BELARUS
Agricultural workers continue sowing corn for grain, which accounts for almost 33% of the planned areas. Early spring grains and leguminous crops (except corn, buckwheat, and millet) have already been sown on 548.9 thousand hectares, which is 89.2% of the plan.

UKRAINE
Minister of Agricultural Policy Mykola Solsky has been charged with illegal appropriation of state land. A bail of 75.7 million hryvnias was posted for his release from custody, and he continues to perform his duties.

Agricultural workers have sown 2.546 million hectares with spring grains and leguminous crops. In particular, 1189 thousand hectares of corn, 761.5 thousand hectares of barley, and 223.3 thousand hectares of wheat have been sown.

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