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How Did the Grain Markets Start the Week?

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European Grain Markets

  • Dramatically and still unknown, whether 60 or 120 days of extending the grain corridor on Friday are suppressing grain markets, with MATIF’s wheat and corn all but wiping out their weekly appreciation
  • Also contributing to the weakness in European grain markets is the improving condition of winter crops in France
  • Rapeseed prices fall on Friday and for the week, the unenviable state of the market is reflected in the fact that for the first time in many years, rapeseed oil is now at a discount to palm oil

American Grain Markets

  • In the banking sector, over the weekend the central banks of the US, EU, UK, Canada, Japan and Switzerland had a joint statement that should reassure us that there will be no financial apocalypse
  • With little to no correction from the financial markets, grains in Chicago (excluding soybeans) rose on Friday and for the week. Their opening this morning, however, was again alarmingly weak

Black Sea Grain Markets

  • Regarding the grain corridor, as far as we understand, Russia “clarifies” that it has been extended by 60 days, while Ukraine says 120. The United Nations and Türkiye only say it has been extended without giving a deadline.

Import/Export Statistics

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