European Grain Markets
- Deteriorating wheat and barley conditions in France provide support for grain market futures in Paris, occurring amid reactivated international demand
- Corn sowing in France is almost complete, and with rainfall now missing for a second week, the condition of the new crop is starting to deteriorate
- After three consecutive days of appreciation, the canola market nearly erases the weekly decline, benefiting from renewed firmness in oil and vegetable oils
American Grain Markets
- US wheat markets are also closing the week firm and after the $6 a bushel breakthrough in Chicago, no wonder to see a more substantial recovery
- With spring planting almost complete, the weather there has also been far from favorable for corn and soybean development for several weeks, which is perhaps the most fundamental reason for appreciation
Black Sea Grain Markets
- The results of Saudi Arabia’s wheat auction are due out today and countries in the region are again expected to be the most aggressive bidders
- As of 2 June, sunflower sowing in Ukraine is 89% complete on 5.04Mha, soybean 94% complete on 1.74Mha.