European Grain Markets
- All grain markets in Europe reported good gains on Friday, influenced by a weakening euro against the dollar and rising crude oil. As a result, MATIF’s March wheat futures hit a one-month high, positioning itself on the new from January 9, 2023.
- An absolutely identical peak in corn, which managed to surpass the level of 290 € / t. Rapeseed, which was traded in a wide range during the session, also managed to find strength and rose to just over 550€ / t.
American Grain Markets
- US grain markets were also firm on Friday. The CBOT wheat price received a strong boost after comments were heard from Russia that “not a grain” was exported under the grain deal.
- Corn and soybeans remain under the influence of weather conditions in South America, and overall on Friday it proved supportive for prices. In addition to the weather, they received support from more expensive crude oil.
Black Sea Grain Markets
- Russia’s permanent representative to the UN says “not a grain” and almost no Russian-origin fertilizer has passed through the grain deal in the last 6 months. He said the prospects for an unimpeded extension of the deal will depend on how steady progress is made in implementing its two components – exporting grain from Ukraine and removing barriers to Russian grain and fertilizer exports.
- Amid delayed inspections in the Bosphorus to boost Ukrainian exports, the minimum vessel capacity for grain was increased from 20 to 25kt, for vegetable oils from 6 to 10kt, while for meal remained unchanged at 15kt.