USDA's Acreage Forecast Indicates Decrease in Corn and Wheat Plantings The U.S. Department of Agriculture (USDA) has unveiled its initial acreage forecast for

Grain Markets on the First Day of the Week

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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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