• Black Sea wheat down sharply on approaching good crop
• On-farm wheat stocks +74% YOY
• Weather friendly for new crop
• Black Sea wheat flat after sell-off
• June wheat export shipments could double in June on lower export tax
• Spring wheat receive more rains, southern wheat quality becoming a concern
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.