European Grain Markets
- Ignoring any news of the bombing of port infrastructure in Ukraine, and now Russia in May, grain markets close weak on Friday and for the week.
- Technically, the weekly close in MATIF wheat and corn is higher than the previous close, but that doesn’t change the fact that bear pressure is clearly intensifying
- The weekly close in the canola market, however, is clearly negative, with November futures losing €22 for the period as of today.
American Grain Markets
- Weather models on Friday confirm cooler and rainy weather in the US and without exception the grain markets in Chicago are also down for the week. Opening for this morning is also quite weak.
Black Sea Grain Markets
- The weakness in the grain exchanges comes amid news that the European Commission has no mechanism to fund the transport costs of Ukrainian grain exports
- In translation, this means no Ukrainian exports and an almost certain further fall in planted area this autumn. For now, however, this apparently does not bother the markets
Import/Export Statistics
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