European Grain Markets
- Oblivious to the dramatic events in Russia over the weekend, Matif grain markets closed weak on Friday, depressed by “improving rainfall forecasts for the US and Europe“
- The condition of wheat, barley and maize in France continued to deteriorate in the last week (to 19 June), which however still does not include the rainfall of the previous week
- With Friday’s plunge, the rapeseed market is the only one on MATIF to give back all it has earned, which in principle, is the worst possible scenario for the bulls
American Grain Markets
- Chicago wheat “limit up” bets this morning are obviously losing because of the de-escalation of tensions yesterday, but either way the market is opening decently firm
- Heavy losses in the corn market on Friday, after which even the weekly close looks unfavorable. Soybeans, however, managed to rise for the week and that makes the market more optimistic from the bulls’ perspective
Black Sea Grain Markets
- In Russian and Ukrainian sites covering grain markets, there is still nothing extraordinary or unusual related to the events in Russia over the weekend
- On the contrary, grain terminals and cargo turnover at Russia’s Black Sea ports are continuing business as usual