The government has also allowed a batch of wheat to be shipped to Egypt, which has been shipped at the port.
Affected by this news, Chicago wheat futures quickly plunged more than 3% in the short term.
The data shows that among the 2.2 million tons of wheat waiting for transshipment in Indian ports due to unexpected events, only 400,000 tons of wheat have issued export letters of credit, and another 6,543.8+0.8 million tons of wheat have become a problem.
Regarding India's restrictions on wheat exports, some analysts believe that with the lifting of the wheat export ban, India may focus on the rice market.
Rice is a typical substitute for wheat, and India is the largest rice exporter in the world.
The data shows that the global wheat price has increased by more than 40% this year, but the rice price has only increased by about 16%.
In fact, with the rising price of wheat, some low-income countries have begun to replace wheat with rice and sorghum. At present, Iran's rice imports have reached a record high.
Data from Thailand also show that the country's rice exports in the first quarter reached 6.5438+0.74 million tons, an increase of 48.5% over the same period last year.
At present, the FOB price of white rice in Thailand has increased from US$ 400 to US$ 460 per ton, an increase of 15%.
More data show that rising global food prices have caused 23 countries to restrict the export of related foods and turn to food protectionism.
In addition, the news from Brazil also shows that due to the continuous rise in crude oil prices, Brazilian sugar factories canceled the sugar export contract and turned to produce ethanol.
In addition, the palm oil market has also received good news recently.
It is reported that although the retail price of palm oil in Indonesia has not yet reached the limited standard, the price of palm fruit in the upstream has fallen sharply, causing dissatisfaction among farmers.
According to a statement of a small-scale farmers' organization, at least 25% palm oil processing plants have stopped buying palm fruit from independent farmers since Indonesia imposed the palm oil export ban, which has led to the palm fruit price in the market being 70% lower than the reserve price set by the regional authorities.
At present, Indonesian farmers have asked relevant departments to resume palm oil export business.
As far as the domestic market is concerned, as of the week of May 12, 200,000 tons of sorghum, 200,000 tons of corn and 80,000 tons of soybeans were purchased by China buyers. The procurement progress has decreased compared with the previous period, but it is still at a high level all the year round, but the wheat procurement is still zero.
At present, a small batch of new wheat has been listed in China, and the listing prices of enterprises all over the country have been announced one after another. Among them, the mainstream prices given by major grain consumers from Hebei and Shandong are between 1.55- 1.6 yuan/kg, setting a record for the opening price of new wheat over the years.
However, this high price does not come from the influence of the international market, but more from the supply concern caused by the decline of wheat stocks caused by the substitution effect of wheat and corn in China last year.
But from the big environment, up to now, macro consumer demand is slowly affecting the upstream market.
According to the news from the National Development and Reform Commission, due to the high feed price, despite the recent increase in the price of live pigs, the national average price of pig food is still 5.35∶ 1, which has been between 5 ∶1and 6 ∶1for more than three consecutive weeks, belonging to the second warning range of excessive decline.
In the next step, we will continue to work with relevant departments to do a good job in central frozen pork storage and promote the return of pig prices to a reasonable range.
At the same time, the National Development and Reform Commission also suggested that farms should make reasonable arrangements for production and management decisions, and maintain the overall stability of pig production capacity and the normal rhythm of slaughtering, which shows that the consumption downturn from the pig market has not changed.
According to market news, this week's feed rice auction will be restarted on Thursday, with a turnover of 2 million tons.
The reserve price of the third-grade grain auction will be raised by 1 1,000 yuan/ton in Northeast China, 1 ton in South China, 1 ton in 600 yuan,1ton in South China and/700 yuan/ton in South China.
These rice are likely to flow to feed fields to replace corn.
Affected by this, the recent rise in domestic corn prices has been suppressed, and some areas have experienced a sustained small correction.