European Grain Markets
- Taking advantage of the grain corridor extension talks, the wheat market rises substantially for the second day in a row and compared to Wednesday’s low MATIF recovers €14
- Understandably, the corn market is also benefiting, maintaining a recent trend of higher prices for new crop than old crop
- Since the start of the week, the canola market has remained almost frozen, moving in an extremely narrow price range by its standards
American Grain Markets
- Not only the wheat market in Paris, but also those in the U.S. have risen massively over the past two days, and for Chicago we can say that the bounce comes just after reaching the psychological $ 6 a bushel
- With seeding conditions improving in the U.S. and record exports starting from Brazil, the corn and soybean markets have little reason to appreciate, but are nonetheless benefiting
Black Sea Grain Markets
- Less than two weeks before the “grain deal” expires, negotiations on its extension will officially resume today
- Meanwhile, the Ukrainian side again accuses the Russian side of deliberately sabotaging ship inspections in Istanbul, with traffic in the corridor reduced to a minimum