European Grain Markets
- Despite a near-zero SWOT day and new declines in European grain production, the Paris grain market tested trend support for the fourth straight day since early July
- Due to heavy rainfall in northern Europe and drought in southern Europe, Strategie Grains again downgrades its EU wheat and corn crop estimates
- Minimal appreciation in rapeseed futures, whose market is also still maintaining the uptrend started at the end of May
American Grain Markets
- Grain markets in Chicago are reporting perhaps their most boring day since the start of the year, no doubt due entirely to the expected August USDA report later today.
Black Sea Grain Markets
- Ukraine announces it will work to create a new “humanitarian corridor” to allow the passage of merchant ships still in its ports (not included in the grain deal) from the start of the war.
- A new series of international auctions including Tunisia’s for wheat, Jordan’s for barley and Algeria’s for corn should support grain markets today