Market update week 48
Following the recent dip, French wheat prices have reached parity with Russian wheat. As a result, French exporters may be able to absorb increased international demand. Furthermore, the wheat harvest in Australia is now being hampered by heavy rain in the country’s east. In Russia, where weather conditions have been favourable in recent weeks, Agritel has published an initial estimate of 2024-25 wheat production at 90 million tonnes.
Following the recent dip, French wheat prices have reached parity with Russian wheat. As a result, French exporters may be able to absorb increased international demand. Furthermore, the wheat harvest in Australia is now being hampered by heavy rain in the country’s east. In Russia, where weather conditions have been favourable in recent weeks, Agritel has published an initial estimate of 2024-25 wheat production at 90 million tonnes.
Brazil’s sowing of the first maize crop sits at 55% vs 69% last year and 75% in 2021. The slowdown gives some support to Brazilian maize premiums. In addition, Brazilian farmers are reluctant to sell their maize due to lower prices and concerns about planting the Safrinha maize.
Brazil’s sowing of the first maize crop sits at 55% vs 69% last year and 75% in 2021. The slowdown gives some support to Brazilian maize premiums. In addition, Brazilian farmers are reluctant to sell their maize due to lower prices and concerns about planting the Safrinha maize.
On November 28, Polish truckers and farmers began a round-the-clock blockade of one of the busiest border crossings with Ukraine, continuing a protest that has left over a thousand trucks trapped for days in miles-long line. Truckers have now shut down the Medyka crossing as well as three other border crossings. The current truck crossing time at Medyka, one of eight road border crossings with Ukraine, is expected to be 91 hours.
On November 28, Polish truckers and farmers began a round-the-clock blockade of one of the busiest border crossings with Ukraine, continuing a protest that has left over a thousand trucks trapped for days in miles-long line. Truckers have now shut down the Medyka crossing as well as three other border crossings. The current truck crossing time at Medyka, one of eight road border crossings with Ukraine, is expected to be 91 hours.