Euro’s Annual High Weighs on Grain Markets at Matif

European Grain Markets

• In the absence of fresh supportive news and after reaching some technical resistances, the Matif grain markets again felt pressure yesterday and weakened
• No doubt the pressure is also contributing to the continued appreciation of the euro, which is just a day away to report its strongest monthly closure since April 2022.
• Currency pressures are being felt even by rapeseed, while oil and palm oil remain firm and continue to appreciate

American Grain Markets

• A day before the report with the forecast for sown area and stocks in the US at the end of the first quarter, grain markets in Chicago are weak and retreating
• Unimpressive export sales, far from the upper end of expectations, for wheat, corn and soybeans, also contribute to the pressure.

Black Sea Grain Markets

• Whether due to threats to halt exports or the tripling of purchases from the Intervention Fund, grain export levels from Russia have increased significantly this week.

Import/Export Statistics

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