European Grain Markets
- MATIF grain markets report another weak week in which all attempts to boost bulls were successfully neutralized by bears
- What happened on Friday is a graphic example of this, with the initial push for appreciation nearly neutralized in wheat, while for corn the rout was complete, closing at daily and weekly lows
- After a new appreciation on Friday and a strong weekly close, the crude oil market assisted in the appreciation of the vegetable oil and oilseed markets as well
American Grain Markets
- U.S. wheat markets are reporting heavy losses on Friday, with the weekly close for hard winter wheat in Kansas particularly unfavorable
- New-crop soybeans and corn in Chicago were marginally higher on Friday, but for the week, like wheat, they suffered heavy losses at a critical time for those markets.
Black Sea Grain Markets
- Along the Egyptian auction at the end of last week, Russian wheat prices have risen and now nominal bids are at $245-250 for bread with 12.5% protein.
- With the grain corridor shut, Ukrainian bids are almost non-existent and the next cheapest grain available is that from Romania and Bulgaria