European Grain Markets
- MATIF’s grain markets ended the week weakly but optimistic. The market reported a weekly appreciation of €3 for wheat (old and new harvest), €4 for the old maize crop and €1 for the new
- Hard closing also on the rapeseed market, increasing in price for the week by €19 for old and €12 for new crops. OPEC, however, is announcing a massive cut in oil production, and that will certainly provide support
American Grain Markets
- In the long-awaited USDA report on Friday, US wheat acreage was well above expectations and the forecast from a month ago. Stocks as of March 1 are slightly above expectations.
- However, corn and especially soybean stocks are below expectations. Soybean acreage forecasts are also well below expectations, while maize acreages are above
Black Sea Grain Markets
- A total of just over 26Mt of cereals and oilseeds and products have been exported from Ukraine since the start of the Grain Corridor
- Russia lowered the export duty on wheat by 156 to 5172 ($77) rubles, using an indicative price of $295.50