SovEcon: Russian and global grain market news – April 15, 2024

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

On Friday, grain prices increased. The May SRW wheat contract closed at $5.56/bushel ($204/mt; +0.8% compared to Thursday). Euronext French wheat prices rose to €203.50/mt ($217/mt; +1.2%). U.S. corn closed at $4.35/bushel ($171/mt; +1.6%).

Hungary will tighten controls on the import of agricultural products, announced the country’s Minister of Agriculture, Istvan Nagy. According to the minister, companies involved in importing grains, oilseeds, eggs, and poultry will have to report on the imported products regardless of their origin. In September 2023, Hungary, Poland, and Slovakia introduced a unilateral ban on the import of agricultural products from Ukraine.

The share of French winter wheat crop in good to excellent condition has fallen to 64%, down 1 percentage point from last week and 30 percentage points below last year.

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