European Grain Markets
- With confirmed continued seaborne exports from Ukraine, grain markets on MATIF closed weak again on Friday, with wheat and corn futures recording consecutive weekly losses
- Despite the rainfall that has started in Western Europe, wheat and barley sowing and maize harvesting in France continue at a good pace
- With Friday’s appreciation, the February rapeseed futures managed to record a weekly gain, but for now that’s the best that can be said for the bulls in this market
American Grain Markets
- Continued rainfall in the southern Plains is depressing U.S. wheat markets and, understandably, Kansas winter durum wheat futures are in a most unenviable position
- The soybean market is finding support in rumors of a Chinese demand switch from Brazil to the U.S., while corn is somewhere in the middle, with a marginal gain on Friday and a new decline for the week
Black Sea Grain Markets
- Commercial traffic in Ukrainian territorial waters continued over the weekend, including this morning data from the Marine Traffic website
- Despite heavy rainfall in the northern and central regions, harvesting in Ukraine is progressing rapidly, with sunflower now almost complete while corn is at 48%, up from 19% a year ago