Grain TA

The grain market closed in the red last trading session. In the wheat market, the war premium is partly being phased out. A weekend without major Russian attacks on Ukrainian ports and other infrastructure brought a certain calm to the market. The Ukrainian Ministry of Foreign Affairs announced an agreement with Croatia on the use of their ports for grain exports. Algeria and Tunisia have drawn up two tenders for wheat after that news. The new tenders did not reverse the downward sentiment in the market.

Last weekend, more rain than expected fell in the US. Combined with more moderate temperatures, this improves growing conditions for corn and soy in the US, which is clearly reflected in the CBoT listings. The improvement in the weather mainly affects the soybean market. Acreage was previously reduced by the USDA and a good harvest can make up for a lot. And since soy will gain weight later than corn, experts say the rain may be just in time.

In Brazil and Argentina, maize harvests have progressed to 55% and 68% respectively. Reports of a strike by port workers in the Argentinian port of Rosario failed to get hold of the market.

Jurphaas Lugtenburg

Is editor at Boerenbusiness and focuses mainly on the arable farming sectors and the feed and energy market. Jurphaas also has an arable farm in Voorne-Putten (South Holland). Every week he presents the Market Flash Grains

j.lugtenburg @boerenbusiness. Nl

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