European Grain Markets
- Another day with weak to no changes in grain markets in Paris, remaining in mini consolidation after the last fall in prices last week
- Grain markets continue to be a massacre for bulls, whose unquestioning surrender has now entered the bears’ “wildest dreams”
- Of course, there are many lucky ones who are benefiting from this situation, like feed mills, livestock farmers, oil mills, etc.
- Perhaps a little late as advice and outside our specialism, but for farmers who have not yet finished sowing, we strongly recommend paying attention to sugar beet, whose prices are at levels not seen for 10-15 years
American Grain Markets
- A real carnage for bulls is also the wheat markets in the US, where once again the bears are competing on which of them will be able to shed more blood
- U.S. wheat bulls get a double hit from the weather (dry for planting and rainy before harvest) and Kansas and Minneapolis futures plunge massively
- In summary, what happened for the corn and soybean markets in Chicago yesterday, for the week and for the month is a copy-paste of that of wheat
Black Sea Grain Markets
- Europe’s biggest grain event this spring, EuroGrainHub 2023 got off to an explosive start yesterday in Bucharest, with maximum capacity and even standing room only
- Rumors that the Russian authorities are causing problems for exporters quoting wheat below $ 275 ex officio support prices from Russia
- This confirms SovEkon’s finding that the volumes contracted by Russia declined. However, quotes from Romania, Ukraine and Bulgaria are weak and this will obviously displace Russian wheat from the market