Start of the week at the Paris grain exchange

• The start of the week brings new developments in the grain trading price.

In the absence of notable changes both on the geopolitical and climatic fronts, grain prices in Europe are decreasing influenced by the strong dominance of Russian wheat.

Rapeseed, on the other hand, returned to a firm position, driven by disappointing palm stocks in Malaysia, but also by the canola crop in Winnipeg, whose yield forecast is threatened by the current drought.

As in Europe, wheat prices fell in trading on Monday 10.07.2023/XNUMX/XNUMX and on the Chicago Stock Exchange amid crop pressure and strong international competition from Russian wheat. Corn and soybeans ended the day on a higher note amid concerns over a number of dry areas in the West Corn Belts.

USDA published, as every Monday evening, the weekly harvest report. Following the recent rains, the situation is improving for maize, which gained 4 points, ending up being estimated at 54% "good to excellent", 1 point more than forecast.

Soybeans advanced less, gaining just 1 point over the previous week to reach 51% "good to excellent", compared to 52% as expected.

Spring wheat, the only product affected by the water imbalance, lost another 1 point to 47% "good to excellent", contrary to analysts' estimates, who expected a 1-point improvement.

The U.S. winter wheat crop rose just 9 points to 46%, compared to 51% expected. Therefore, the harvest is still behind, compared to a 62% advance last year and a five-year average of 59%.

Quotations Euronext 10.07.2023/1/XNUMX (GMT+XNUMX)

Wheat (€/t)

Maize (€/t)

Rapeseed (€/t)

Article written by Gabriela Dan, Editor of Arta Albă

Read on White Art and: "Anti-hunger" biscuits - a successful experiment by Italian researchers