Grain TA

The grain market cannot shake off the negative mood. In the wheat market, news from Ukraine caused price pressure. The grain union of Ukraine estimates the yield to season 13% higher compared to last season. This is mainly due to higher yields per hectare. In addition, Ukraine would investigate the possibilities of insuring private ships itself. In doing so, they want to encourage shipowners to sail back to the Black Sea ports and thus help boost grain exports via this route.

For corn, the yield forecast has also been increased in Ukraine to 26,9 million tons. In comparison, the USDA assumed a harvest of 25 million tons in the latest Wasde report. After a record soy crop, Brazil is now also on course for a very good corn crop. Market bureau Celeres expects a total yield of 139 million tons.

In the soy trade, players are mainly concerned with yields and stocks in the US. StoneX has lowered its yield forecast by 127 million bushels to 4,173 billion bushels for the 2023 crop, bringing the average yield to 50,5 bushels per acre. China is currently keeping quiet about buying soy from the US. And demand from China, for example, would come in handy to boost exports to the multi-year average.

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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