European Grain Markets
- The euro’s near three-month low on Friday is doing nothing at all to curb the decline in grain markets in Paris
- On the contrary, without exception, they all continue to fall, including for the week, as the old wheat crop is also at a new annual low
- Amid a historic drought, FranceAgriMer reports a surprising and substantial improvement in winter crops in France, which is no doubt a major factor in Friday’s slump
American Grain Markets
- Wheat’s solid opening in Chicago on Friday ends in a total bull rout, especially for the new crop, closing at levels not seen since late 2021
- The projected increase in US acreage is proving to be the straw that breaks the camel’s back and pulls the corn market out of consolidation, especially for a new crop. Less dramatically, but in a negative direction, are the developments in soybeans
Black Sea Grain Markets
- The European Commission has proposed extending duty-free imports from Ukraine for another year
- Due to unfavorable weather in the first half of the month, SovEcon lowered its estimate for February wheat exports from Russia by 0.3Mmt
Import/Export Statistics
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The following reports may be of interest to you:
Russia Climbs to Second Place in Brazil's Wheat Export Ranking
Corn Purchase Prices in Ukraine Started to Increase Again
Wheat Prices Signal Impending Crisis of "Supply Surplus"
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Ukraine Exported 18 Million Tons of Corn This Year