Author: Viktoriia Ray
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Cherkizovo Bond Issue: 1B Rubles to Boost Integration
Financing Secured: Cherkizovo launches a 1 billion ruble OTC bond at an effective rate of 16.7% to fund vertical integration and product improvements. Sector Momentum: Russian agricultural bond issuance reached 22 billion rubles in 2024, up 18% year-on-year, signaling strong capital market access. Grain Demand Supportive: Continued investment in Russia’s meat and livestock sector underpins…
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Kazakhstan Grain Exports Stalled by Logistics Bottlenecks
Logistics bottlenecks persist: Railcar shortages, congested docks, and tighter border controls are keeping Kazakhstan’s grain exports subdued despite the formal lifting of loading restrictions. Prices steady but demand weak: Grade 4 wheat is offered around USD 210/t DAP with softer bids near USD 203/t, while premium 25%+ gluten wheat holds in the USD 230–240/t range…
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Ukrainian Corn Exports Surge as Black Sea Prices Rise
Bullish: Ukrainian corn exports dominate Black Sea activity, supported by strong EU and Turkish demand and rising prices. Bearish: Persistent geopolitical and security risks around Ukrainian port infrastructure threaten potential export disruptions. Bullish: Tight US export availability for January–February underpins Ukraine’s competitiveness in nearby shipment slots. Bullish: Domestic Ukrainian corn prices are firming, reflecting robust…
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Russian Wheat Production Jumps 11% in 2025
Production Surge: Russia’s 2025 net wheat harvest climbs 11% year-on-year to 91.37 million tons, boosting exportable supply. Yield Strength: Average wheat yield rises 17% to 34.4 centners per hectare, underscoring strong agronomic performance. Regional Shift: Stavropol Krai overtakes Krasnodar as top producing region with 8.19 million tons. Bearish Price Signal: Larger Black Sea export availability…
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Russian Grain Exports Surge 14% in Mid-December
Mid-December rebound: Russian grain exports for December 1–20 reached 3.389 million tons, up 14% year-on-year, driven by a sharp pickup in the second ten-day period. Wheat-led strength: Wheat exports nearly doubled in the second ten-day period to 1.679 million tons, pushing total December wheat shipments to almost 3.1 million tons (+18.5% YoY). Partial recovery in…
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Russian Sunflower Oil Export Duty Up 36.5% — Prices Rise
Bullish: Russia’s 36.5% hike in sunflower oil export duty and Black Sea tensions are lifting global sunflower oil prices and tightening forward supply into early 2026. Bearish: Zero export duty on sunflower meal and record Russian oilseed harvests partially offset tightness by supporting byproduct availability and overall vegoil supply. Russia Lifts Sunflower Oil Export Duty…
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Ukrainian Corn Prices Drop Pre-Holiday; China Plan Looms
Ukrainian Corn Prices Drop as Holiday Demand Softens; China Signals Long-Term Market Shift Ukrainian corn down: Feed corn bids eased by UAH 100–300/t this week to UAH 8,100–9,600/t CPT amid weaker export demand and pre-holiday trader caution. China’s expansion: Beijing targets an extra 50 million tons of grain, mainly corn and soybeans, aiming to sharply…
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Odesa Port Congestion Worsens: Grain Rail Backlog Rises
Rail congestion is worsening at Greater Odesa ports, with the grain railcar backlog rising to 11,656 units despite weaker unloading. Throughput constraints are tightening, as average daily loading to Greater Odesa ports slipped to 1,077 railcars/day, deepening network bottlenecks. Danube corridor support is weakening, with unloading down to just 22 railcars/day, reducing an important alternative…
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Russian Wheat Export Duty Cut 10.8% — Market Impact
Russia cuts wheat export duty by 10.8% to 97.3 rubles/ton from January 12, down from 109.1 rubles/ton. Barley and corn duties remain at zero, preserving Russia’s competitive edge in global feed grain markets. Indicative wheat price edges up to $228.4/ton from $227.9/ton, signaling steady export demand. Duty changes are short-lived, applying only for January 12–13,…
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Russian Sunflower Oil Aid: 163 Tons Sent to Africa
Humanitarian Focus: Russia shipped 163 tons of fortified sunflower oil to Zambia and Mozambique via the UN World Food Programme. Recipients: Mozambique received 70 tons of oil, while Zambia received 93 tons of oil plus 648 tons of yellow split peas. Funding Framework: Shipments were facilitated through OleoScope under Russia’s annual $10 million WFP contribution…