Andrey Sizov from SovEcon speaks about COVID-19 news and the world wheat market. When the COVID-19 panic is over what could support the market? The answer is the weather.
Andrey Sizov
10.04.2020
Andrey Sizov from SovEcon speaks about COVID-19 news and the world wheat market. When the COVID-19 panic is over what could support the market? The answer is the weather.
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Increase in stocks can be attributed to the record-high wheat crop and relatively sluggish exports at the beginning of the export season.
The estimate was revised up amid favorable weather conditions in the South.
The exports declined amid the sluggish demand at the end of the export season.
Wheat is seeded at a rapid pace amid favorable weather conditions and warm temperatures at the beginning of the sowing campaign.
The stocks have significantly surpassed the average due to the record-high wheat crop and relatively sluggish exports.
The sales are declining amid the lower competitiveness of the Russian wheat.