Grain Markets Are Starting to Appreciate, Is There Light? - Outlook of Grain Markets After an Uncertain Week

Grain Markets Are Starting to Appreciate, Is There Light?

Mintec Global
Spread the news!

European Grain Markets

  • MATIF grain markets recorded their first weekly appreciation since late July and while this is not yet a reason to rejoice for the bulls, it is definitely a step in the right direction.
  • Last week’s appreciation is due to the weak euro, however, so it’s really still early days for any joy.
  • With crude oil at a near one-year high, the rapeseed market closes weak for the third week in a row, weighed down by both canola and soybean weakness in North America.

American Grain Markets

  • MATIF’s appreciation is also supported by a firm performance in US wheat markets, although neither the dollar nor news of ships sailing to and from Ukraine are supportive of such a development
  • With harvest accelerating and the dollar appreciating, the Chicago corn and soybean markets remain weak, though the weekly change in both is marginal

Black Sea Grain Markets

  • On Saturday, Ukraine reported two bulk carriers (essentially grain) that had managed to pass through the Russian-imposed naval blockade and docked in ports around Odessa
  • Poland, Slovakia and Hungary have unilaterally continued their bans on Ukrainian grain imports, Romania has left the decision to the EC and only Bulgaria has explicitly lifted this ban.

Import/Export Statistics

Please click to reach our marketplace