European Grain Markets
- Reflecting the prevailing holiday mood at the end of August, MATIF grain markets report one of the quietest weeks this year
- With a weekly price range of €7 for wheat and €5 for corn, both markets were almost unchanged, with wheat adding €0.50 over the period while corn lost €1
- A slightly volatile and almost unchanged week in the rapeseed market too, which following soybeans and canola, still remains far more positive from a bullish perspective
American Grain Markets
- Grain markets in Chicago have also had quieter weeks during the year, but overall price change has been minimal, and because of the strong dollar
- The only exception is the soybean market, which rose on Friday, for the week, and this morning after weather models again gave hot, dry weather
Black Sea Grain Markets
- A second ship, albeit with steel rather than grain, has sailed along the so-called “temporary corridor” from the port of Odessa in Ukraine, which is clearly a step in the direction of unblocking Ukrainian port
- International bourses were also under pressure from the recent crop increases in Russia, and let’s recall that last week SovEcon raised its wheat by as much as 5Mmt! to 92.1Mmt