SovEcon: Russian and global grain market news – April 1, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

On Friday, trading on the exchanges did not take place due to Good Friday.

The share of Argentine corn in normal to excellent condition fell below the average for the first time since October 2023, according to the Buenos Aires Grain Exchange. As of March 27, this share of crops was 75%, compared to an average of 77% over five years. The exchange attributes the deterioration to plant diseases and unfavorable weather in some regions.

A vessel loaded by grain trader TD “RIF” left the port on the night from Friday to Saturday after receiving a phytosanitary certificate, Reuters reported, citing sources within the company. TD “RIF” ships had not left the ports since March 18 due to inspections.

Odesa region was attacked twice in the last three days. The region was hit by missile strikes on Friday and by drones on Sunday. The main target of the attacks remains the region’s energy infrastructure.

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