Grain Markets: Confirmed Heavy Rainfall in Argentina and Brazil

European Grain Markets

• A day of weakness in grain markets, in which futures of wheat and corn of MATIF close at another one-year low
• The continuing pressure on prices in Europe is also affected by weaker demand from feed mills, which, due to the inflationary environment last year, have reported a decline in demand for feed, and hence their production.
• MATF’s rapeseed is another collapse, although at the end of the session it finds strength and closes far above the daily low

American Grain Markets

• After a few days with opposite changes, the direction of movement of grain markets in Paris yesterday coincides with that in Chicago, where without exception all are weak
• In addition to cheap Black Sea exports, the main reason for their weakness remains the weather, with confirmed heavy rainfall in Argentina, Brazil, and even the southern plains of the United States.

Black Sea Grain Markets

• Authorities in Ukraine are already working on expanding the range of goods allowed for export along the “grain corridor” to include metals – another major item in Ukraine’s pre-war exports.
• Due to increased tariffs and many days off, SovEkon reported a slowdown in grain exports from Russia after the New Year, expecting a decline of 14% on a monthly basis in January.

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