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• Current weather conditions are favorable for a new crop; wheat crop forecast remains unchanged
• Rosstat has significantly increased the estimate of corn crop in 2022/23
• Wheat higher on global risk-off
• Wheat exports decline week on week
• Domestic grain prices continue to creep lower
• Next week is predicted to be warm and dry
I am the Managing Director of SovEcon, a leading firm focused on the Black Sea agricultural markets research. For 27 years we have been forecasting crops and exports, assesing stocks and consumption and looking at other key price drivers. Every day we talk to farmers, traders and officials gathering market intelligence and sorting out the market noise.
One email every Monday on key events in the Black Sea from Andrey Sizov