Euronext grain exchange – 20.03.2023

• The market remains in a downward spiral, further fueled by the flow of grain from the Black Sea combined with the fragile global economic context.

Thus, wheat prices on Euronext return to pre-war levels. The flow of goods from Ukraine remains substantial, despite logistical difficulties.

On the international stage, Algeria buys 70.000 tons of corn from South America. Taiwan also buys 56.300 tons of milling wheat from the US. The price of canola fell again yesterday and is at its lowest level in the last 21 months.

According to Ukraine's agriculture minister, wheat production for the 2023 harvest is estimated at 16,6 million tons, up from 20,5 million tons in 2022, and corn at 21,7 million tons, up from 25,6, 3,8 million tons last year. Only oilseeds are expected to see a slight increase, to 3,7 million tonnes of canola, up from 11,5, and 11,1 million tonnes of sunflower, up from 2022 in XNUMX.

According to analysts, wheat yields in Europe are expected to increase for the next harvest, being estimated at 5,99 t/ha, up 3% from 2022. Barley yields are potentially unchanged at 5,91 t/ha, and those of rapeseed are slightly lower, at 3,29 t/ha

In the US market, wheat prices fell again yesterday and the Kansas crop rating improved from 17% last week to 19%, from good to excellent. USDA estimates that 53% of winter wheat acreage is in water deficit, up from 55% last week.

The price of corn fell yesterday after last week's rise, which was fueled by exports to China. Exports were 716,618 million tons of soybeans and 374,224 million tons of wheat, in line with expectations. However, maize exports were well above expectations at 1.188.666 tonnes.

Quotations Euronext 20.03.2023 (GMT +1)

Wheat (€/t)

Corn (€/t)

Rape (€/t)

Article written by Gabriela Dan, Editor of Arta Albă

Read on White Art and: Erythritol – potential health risk