Euronext - the European grain market

• The return of the euro/dollar exchange rate and the competition due to the Black Sea grains influenced at the end of last week and its beginning the trading price of wheat and corn on Euronext.

At the same time, rape was affected by the correction of the excesses of the oil price increase, which returned to 91 dollars/barrel in New York.

The report USDA it was that which held traders' attention with slightly higher-than-expected US soybean stocks on August 31 and slightly lower US corn stocks, but mostly an unexpected increase in US wheat production for 2023 to 49,3, XNUMX Mt.

This 2,1 million tonnes more than the last official figure on September 12 triggered a major stir in wheat prices in Chicago, which was also followed by wheat prices on Euronext.

In Ukraine, grain exports from the ports of Odessa and the surrounding region are gradually resuming, despite the absence of a "corridor" and recurring military tensions related to infrastructure.

In the American market the dreaded shutdown was borderline avoided by the US government over the weekend and will continue until at least November 17. Therefore, USDA will be able to continue its usual publishing pace, with particular attention to the next monthly report WAS THE from October 12.

This publication will include the adjustments made in last Friday's report. Quarterly stocks as of Aug. 31 stood at: wheat 1,78 billion bushels versus 1,772 expected and 1,778 as of Aug. 31, 2022; corn 1,361 billion bushels vs. 1,419 expected and 1,377 in 2022, and soybeans 0,268 billion bushels vs. 0,242 expected and 0,274 in 2022.

Euronext quotes 02.10.2023 (GMT+1)

Wheat (€/t)

Maize (€/t)

Rapeseed (€/t)

Article written by Gabriela Dan, Editor of Arta Albă

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