After a relative quiet first quarter, we see the market demand is going up again. Mainly the Middle East has been active the last couple of weeks as positions are being covered for the Ramadan season.
Prices remain the same, with exception of China, where last quantities with mainly moisture damage are being sold at lower prices. Argentina remains to sell below market level with low quality (often old crop), whereas USA and CEE origins offer reasonable to good quality, depending on hybrid, at attractive prices.
Regarding new crop’s planting, the CEE region is almost finished, keeping in mind it is >60% less than previous year. Also other origins give indications of significant lower planting. Nevertheless Red River Group will ensure its guaranteed whole year round supply.