The beginning of the season 2016/2017 was marked by export prices reduction to six-year minimum. Only during the first week of the new season prices for all grain crops lost on average $7, and they are also down by $40 compared with the beginning of last season.
In fact, price reduction is typical for a season’s beginning. However, still there are nuances associated with features of this particular season. An expected high supply of feed grain is the main peculiarity of the 2016/2017 marketing year.
Wheat has been threshed at only 4% of the intended area, but starting productivity is very high this year – 3.74 MT/ha. Usually wheat average yield increases while harvesting proceeds, and this gives reason to raise estimates of gross wheat production. (Blackseagrain/Business World Magazine)