Andrey Sizov: prices on the grain market will continue to decline
"It was dry in key exporting countries, including in our South", said Andrey Sizov. - "Then there came the rains, which began to push down the world quotes". - said the expert.
"Until recently, we have seen an increase in grain prices. One of the key factors was the rapid devaluation of the ruble in recent months. And factor number two - the off-season strengthening of world prices, which was due to the fact that the world market was afraid of restrictions on supplies from exporting countries", commented Andrey Sizov, stressing that Russia met the expectations and imposed restrictions.
In particular, we are talking about the export quota for grain.
"Fears that these restrictions may be introduced supported the global market", said Andrey Sizov, saying that the market has calmed down somewhat over time and now prices are going down.
The analyst stressed that the price decline is likely to continue.
"The situation is different for individual crops. For wheat (including feed), the decline will be less, because stocks at the end of the season are record low. As for corn and barley, stocks are higher than expected and prices will decrease significantly", said Andrey Sizov.
To watch the full episode, see the link: https://www.youtube.com/watch?v=X8GprJKLN6Q
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