Black Sea Regional Analysis
Russian Grain Markets: 15–19 July 2024 Russia started harvesting several weeks earlier this season due to hot weather conditions and early maturity of early grains. As of 12 July, Russian farmers harvested 32 MMT of grains from 8.4 Mha versus only 12.2 MMT from 3.3 Mha a year ago. The ave...
European Market Analysis
Regional News Russia set a new record for wheat exports in MY 2023/24, with the country shipping 55.3 MMT of grain and accounting for 26.1 percent of global exports. Egypt’s GASC secured 20 KMT of sunflower seed oil at $1,013.99/MT for 1-15 September delivery. The original pla...
Summary of Recent Factors Driving Commodity Price Action
Recently, a WPI client asked if we could summarize the major factors that have driven commodity markets over the past several months. The goal is to succinctly describe how markets have ended up in their current state and examine the next major trend(s) that are likely to develop. This report,...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 July 2024 Russian grain markets remained unmistakably bearish which is tradition at the peak of grain harvesting campaign. Even though this year’s crop is quite modest compared to the past several seasons, the pressure on prices is significant because of...
Black Sea Regional Analysis
Russian Grain Markets: 2–5 July 2024 Russian grain markets remained unmistakably bearish under pressure of high carryover and optimistic new crop forecasts. New crop is already arriving at inland elevators and even port terminals. Feed wheat lost $10/MT on a week which is a good indicator...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 June 2024 Russian grain markets are moving slowly but steadily to the end of the current season anticipating new crop pressures and global trends. Overall, the market was bearish last week, but a bigger bear seems to be ahead as the new season is only starting...
Market Commentary: Changing Winds for Soybeans, Wheat?
CBOT grain futures initially saw continued impacts from Friday’s surprisingly bearish USDA reports, but those shockwaves seemed to fade throughout the day, which left wheat and soybeans to trade higher. Wheat found support from dryness in the Black Sea and smaller crop estimates for Russi...
Black Sea Regional Analysis
Russian Grain Markets: 17–21 June 2024 Russia’s grain markets were quite volatile with some regions showing price recoveries. Southern Russia’s harvesting campaign is underway. Fresh demand for new crop barley has seen better price levels and as long as feed barley exports are...
Market Commentary: Still Looking for that Inevitable Bottom
Today, everything bled red except live cattle. Generally favorable U.S. weather overhangs the market until USDA’s Acreage Report is issued next week on 28 June. Nothing is tanking as much as wheat, with Paris now entering oversold territory and July HRS hitting a new contract low...
Black Sea Regional Analysis
Russian Grain Markets: 10–14 June 2024 Last week, Russian grain markets were quite volatile. In the south, the main export-oriented areas saw grain prices drop following the global bearish trend and Russia’s most recent failure on the GASC tender in Egypt. Moreover, Russia’s s...
Black Sea Regional Analysis
Russian Grain Markets: 3–7 June 2024 Russian grain markets remained stable and slightly bullish against solid demand for Russian wheat globally and recently appreciated markets due to fears of lower production caused by adverse spring weather. All Russian ministries, including the Ministr...
Black Sea Regional Analysis
Russian Grain Markets: 27–31 May 2024 Russia remains the focus of many world grain analysts as weather factors in Russia and Ukraine make global markets nervous and bullish. Futures markets reacted almost instantaneously while Russian markets only now realize the situation and all grains...
Black Sea Regional Analysis
Russian Grain Markets: 15–19 July 2024 Russia started harvesting several weeks earlier this season due to hot weather conditions and early maturity of early grains. As of 12 July, Russian farmers harvested 32 MMT of grains from 8.4 Mha versus only 12.2 MMT from 3.3 Mha a year ago. The ave...
European Market Analysis
Regional News Russia set a new record for wheat exports in MY 2023/24, with the country shipping 55.3 MMT of grain and accounting for 26.1 percent of global exports. Egypt’s GASC secured 20 KMT of sunflower seed oil at $1,013.99/MT for 1-15 September delivery. The original pla...
Summary of Recent Factors Driving Commodity Price Action
Recently, a WPI client asked if we could summarize the major factors that have driven commodity markets over the past several months. The goal is to succinctly describe how markets have ended up in their current state and examine the next major trend(s) that are likely to develop. This report,...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 July 2024 Russian grain markets remained unmistakably bearish which is tradition at the peak of grain harvesting campaign. Even though this year’s crop is quite modest compared to the past several seasons, the pressure on prices is significant because of...
Black Sea Regional Analysis
Russian Grain Markets: 2–5 July 2024 Russian grain markets remained unmistakably bearish under pressure of high carryover and optimistic new crop forecasts. New crop is already arriving at inland elevators and even port terminals. Feed wheat lost $10/MT on a week which is a good indicator...
Black Sea Regional Analysis
Russian Grain Markets: 24–28 June 2024 Russian grain markets are moving slowly but steadily to the end of the current season anticipating new crop pressures and global trends. Overall, the market was bearish last week, but a bigger bear seems to be ahead as the new season is only starting...
Market Commentary: Changing Winds for Soybeans, Wheat?
CBOT grain futures initially saw continued impacts from Friday’s surprisingly bearish USDA reports, but those shockwaves seemed to fade throughout the day, which left wheat and soybeans to trade higher. Wheat found support from dryness in the Black Sea and smaller crop estimates for Russi...
Black Sea Regional Analysis
Russian Grain Markets: 17–21 June 2024 Russia’s grain markets were quite volatile with some regions showing price recoveries. Southern Russia’s harvesting campaign is underway. Fresh demand for new crop barley has seen better price levels and as long as feed barley exports are...
Market Commentary: Still Looking for that Inevitable Bottom
Today, everything bled red except live cattle. Generally favorable U.S. weather overhangs the market until USDA’s Acreage Report is issued next week on 28 June. Nothing is tanking as much as wheat, with Paris now entering oversold territory and July HRS hitting a new contract low...
Black Sea Regional Analysis
Russian Grain Markets: 10–14 June 2024 Last week, Russian grain markets were quite volatile. In the south, the main export-oriented areas saw grain prices drop following the global bearish trend and Russia’s most recent failure on the GASC tender in Egypt. Moreover, Russia’s s...
Black Sea Regional Analysis
Russian Grain Markets: 3–7 June 2024 Russian grain markets remained stable and slightly bullish against solid demand for Russian wheat globally and recently appreciated markets due to fears of lower production caused by adverse spring weather. All Russian ministries, including the Ministr...
Black Sea Regional Analysis
Russian Grain Markets: 27–31 May 2024 Russia remains the focus of many world grain analysts as weather factors in Russia and Ukraine make global markets nervous and bullish. Futures markets reacted almost instantaneously while Russian markets only now realize the situation and all grains...