Follow the daily grain and oil to understand the global market dynamics.
According to the latest news, in response to the Black Sea grain export issue, Russia said a few days ago that once sanctions on Russian companies are lifted, the Black Sea initiative for Ukrainian grain exports will take effect immediately. This means that Russia has given the final answer to the restoration of this agreement.
However, at the same time, Russia issued a notice saying that to ensure food security and maintain the stability of durum wheat products in the domestic market, from now until May 31, 2024, Russia will impose temporary export restrictions on durum wheat, and only export to eligible Eurasian Economic Union member states such as Armenia, Belarus, Kyrgyzstan and Kazakhstan.
In the South American market, Argentina, which is currently a major grain exporter in the region, has suspended grain export registrations pending the announcement of a new economic policy.
In Asia, food inflation from India remains severe. The data shows that the average retail sales of Indian onions, tomatoes, rice and sugar are 5% and 5% higher than a year ago, respectively. Only the edible oil market, due to the decline in import costs driven by the low international **, edible oil** showed a year-on-year decline, which helped to alleviate its domestic inflation situation.
India has now restricted exports from wheat and rice to sugar, and banned onions from last Friday until March 31 next year. Meanwhile, India will also temporarily lift the 50% ban on peas and extend the ban on the export of deoiled rice bran until March 31, 2024, starting this week. According to the data, deoiled rice bran is mainly used for feed.
In the international market, as of the week of December 7, the United States shipped nearly 310,000 tons of sorghum, 140,000 tons of corn and 500,000 tons of soybeans to China.
Elsewhere, the U.S. Food and Drug Administration recently approved two genetically modified corn for use in food.
In the domestic market, the current corn market is still ongoing. Monitoring data shows that Shengtai Pharmaceutical fell 4 times a day today, with a cumulative decline of 38 points;Shouguang golden corn also fell four times today, down 28 points;The mainstream purchase price of northern ports has been lowered to about 2,500 yuan tons, and that of southern ports is 2,630-2,650 yuan tons.
However, from the perspective of the downstream market, domestic pig prices have risen 4 times in a row recently. According to data from Xinmu.com, the current average price of live pigs in the country has returned to the 14 yuan kilogram mark, which is 053 yuan kg.
At the same time, in the pig market, the 03 contract was once close to the 15,000 yuan ton mark, and the 01 contract in the near month once hit the daily limit.
In addition, in the domestic ** market, the leading enterprise Muyuan shares since the bottom of the end of October, the cumulative ** is close to 30%, and Wen's shares have risen by about 17% over the same period.
According to the latest data released by the National Bureau of Statistics, despite the floods in parts of North and Northeast China this year, the increase in planting area offset the impact of the typhoon, and the annual grain output hit a record high. The country's total grain output in 2023 is 139 trillion catties, an increase of 177 over the previous year600 million catties, an increase of 13%, stable at 1 for 9 consecutive yearsMore than 3 trillion catties. Among them, the corn yield was 5776800 million catties, an increase of 232 over the previous year800 million catties, an increase of 42%。