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After three years of record growth, fueled by the war in Ukraine, adverse weather, and higher energy and natural resource costs, global food prices will decline in 2024, particularly for staples such as sugar, coffee, corn and soybeans, reducing consumer spending and consumers This was reported by Rabobank experts in the weekly report "Prospects for the Development of Agricultural Products Markets".   Demand for agricultural products in 2024 will remain low due to economic...

Under the pressure of increased forecasts of world production and low demand from buyers, wheat prices on world exchanges last week fell by 2-4.4%, which became the biggest weekly drop in the last 2 months.   In the November report, IGC experts increased the forecast of world wheat production in 2023/24 from 784.9 to 786.6 million tons, which will be 2% less than the 2022/23 indicator. For Ukraine, thanks to the adjustment of sowing areas and yield, the production estimate has been...

Soybean and soybean oil prices rose strongly last week amid dry and hot weather in central Brazil, but eased slightly at the end of the week as traders started to book profits. Sunflower oil rose in price by another 3-4% due to the shortage of sunflower supplies due to low prices and the rise in the euro exchange rate.   December soybean futures on the Chicago Stock Exchange rose 3.4% early last week before falling 2.7% to $1,145/t (+1.4% for the week, -3.5% for month) after a 5%...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ FOB, $ DAF, $ CIF, $ Wheat mill offals 900 105 Peas 195 Green peas 5000 Corn 5600 4083 3071 ↓ 26 146 144 190 ↑ 3 Sunflower oil cake ...

Refinitiv Commodities Research experts, against the background of an abnormal drought and a delay in sowing in the central-western and southeastern regions of Brazil, lowered the forecast for soybean production in the country in 2023/24 MR by 4.1 million tons to 159.3 million tons, which will exceed last year's 154, 6 million tons. We will remind that in November the USDA estimated the soybean harvest in Brazil at 163 million tons, and the Conab agency estimated it at 162.4 million...

The new president of Argentina is the radical right-wing libertarian Javier Millay, who promises to save the economy from triple-digit inflation and recession, and the country from increasing poverty, Reuters reports.   According to official data, Miley won almost 56% of the vote, while his rival, Minister of Economy Sergio Massa, got 44%, which surprised sociologists because Miley was trailing Massa according to polls.   Hundreds of Miley's supporters in downtown...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ DAF, $ CIF, $ Wheat mill offals 900 105 Peas 8500 195 ↓ 17 Buckwheat 9500 Green peas 5000 Corn 5575 ↑ 50 4083 ↓ 28 3098 145 133 184 ↑ 2...

Yesterday, January Brent oil futures fell by 4.9% to $77.4/barrel (-14.7% for the month), and December WTI oil futures fell by 5% to $72.9/barrel. barrel against the background of increased supplies from the Russian Federation, increased production and oil reserves in the USA and negative macroeconomic data from the USA.   Global economic news lowers energy demand and oil prices. Weekly U.S. jobless claims rose by 32,000 to a 2-year high of 1.865 million, while the number was...