Paris grain exchange

• Futures quotes on the global grain market are influenced both by the harvest period and by the strong and continued pressure of end-of-season offers from the Black Sea area.

The difference between Russian grain prices and European grain quotations is a key factor that must be continuously monitored by traders at the beginning of the season to assess the attractiveness of Russian origins compared to Western European ones.

In the context of exports from the Black Sea area, as the expiration date of the agreement on the humanitarian corridor in Ukraine approaches, all actions are being watched, even if, for the moment, Russia's position is not very optimistic about its renewal.

The trading session on the Euronext Stock Exchange on 3.07.2023/XNUMX/XNUMX continued the movement started on Friday following the publication of the data USDA regarding the cultivated area. Soybean prices rose again, gradually approaching the highs reached in June. Instead, corn prices fell. Prices for delivery in December 2023 hit a new low, trading below $4,94/b, the lowest close since October 2021. The price of wheat fell again, approaching the levels traded on June 15 .

The status of corn crops improved by 1 point compared to last week. 51% of the area under corn is now assessed as "good to excellent". The impact of recent rainfall has not yet been factored into these figures.

On the other hand, the soybean crop condition rating deteriorated by 1 point, with 50% of the cultivated area now considered in condition "good to excellent". The condition of the spring wheat crops deteriorated by another -2 points compared to last week, with 48% of the area considered "good to excellent". Winter wheat harvest is progressing quickly, with 37% of acreage currently harvested, compared to 24% estimated last Monday.

Quotations Euronext 03.07.2023/1/XNUMX (GMT+XNUMX)

Wheat (€/t)

Maize (€/t)

Rapeseed (€/t)

Article written by Gabriela Dan, Editor of Arta Albă

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