In Ukraine, the prerequisites for the growth of grain and oil prices have appeared

06/04/2023 15:11

The end of March reflected positive price indicators for many crops on the world market. In the vast majority, soybeans and soybean meal led the market. Prices for old and new crop US corn rose. Hard red winter and spring wheat also showed price gains.

This is evidenced by the data of the analytical review of grain and oil crops in Ukraine and the world for the month of March by the Ukrainian Universal Exchange.

Stock market quotes at the end of March relative to February:

May corn contract (Black Sea) — $253.25/t (-2.03%);

May wheat contract (Black Sea) — $284/t (-3.4%).

"The rise in prices was associated with information on future planting plans and available stocks in the US, as well as news about the withdrawal of international grain traders from the Russian market," the exchange's analysts said.

According to the data, the situation on the domestic grain market did not develop as dynamically as on the world market. Limited demand from processors and sufficient reserves of raw materials for work in the medium term did not allow for a strengthening of wheat prices for corn.

"In the second half of the month, there was a slight recovery in prices. This was facilitated by information about the arrival of new ships for loading at the ports of Odesa, as well as the recovery of quotations on the world market. However, due to the limited demand in the domestic market, prices in the vast majority continued to come under pressure. The information on the decline in the export of agricultural products from the Russian Federation adds optimism in the recovery of grain and oil prices," the analysts explained.

The end of March reflected positive price indicators for many crops on the world market. In the vast majority, soybeans and soybean meal led the market. Prices for old and new crop US corn rose. Hard red winter and spring wheat also showed price gains.
This is evidenced by the data of the analytical review of grain and oil crops in Ukraine and the world for the month of March by the Ukrainian Universal Exchange.
Stock market quotes at the end of March relative to February:
May corn contract (Black Sea) — $253.25/t (-2.03%);
May wheat contract (Black Sea) — $284/t (-3.4%).
"The rise in prices was associated with information on future planting plans and available stocks in the US, as well as news about the withdrawal of international grain traders from the Russian market," the exchange's analysts said.
According to the data, the situation on the domestic grain market did not develop as dynamically as on the world market. Limited demand from processors and sufficient reserves of raw materials for work in the medium term did not allow for a strengthening of wheat prices for corn.
"In the second half of the month, there was a slight recovery in prices. This was facilitated by information about the arrival of new ships for loading at the ports of Odesa, as well as the recovery of quotations on the world market. However, due to the limited demand in the domestic market, prices in the vast majority continued to come under pressure. The information on the decline in the export of agricultural products from the Russian Federation adds optimism in the recovery of grain and oil prices," the analysts explained.
Back
Загружаем курсы валют от minfin.com.ua