How Did the Grain Markets Start the Week?

European Grain Markets

MATIF grain markets continued with massive losses on Friday, ending a truly terrible week for all bulls.

March wheat futures closed at a seasonal low, down €11 on the period. At a seasonal low and below the psychological €300, the corn market also closes losing nearly €10 for the period.

The bears’ triumph is complemented by the canola market, also falling to a new seasonal low and losing just over €23 for the period.

American Grain Markets

If the strong euro/weak dollar can be blamed to some extent for the Matif squeeze, it clearly cannot be added to the price slump in Chicago

However, the wheat and corn markets are falling broadly and also digging seasonal lows. With support from the meal, soybeans are reporting higher, while butter is erasing its early-season gains

Black Sea Grain Markets

According to an analysis based on mathematical modeling and NASA satellite images, Russia has exported $1B USD worth of wheat from the occupied territories of Ukraine

Since the start of the season, grain exports from Ukraine have passed 18Mmt, and after some slowdown around the extension, have accelerated again in recent weeks

Import/Export Statistics

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