Getreide News, 08/04/2023

On the Euronext/Matif, the bearish mood continued to prevail just before the weekend. On the domestic cash market, market participants are concerned about the current grain development. In the past few days, heavy and heavy rainfall has caused field work to come to a standstill again and again. The stocks are mostly ready for harvest, but the moisture is the main cause of quality problems. Especially B-wheat could be problematic. In addition to the loss of quality, there are more and more grain stocks and also cause difficulties during the harvest. Especially with a view to the coming weeks, market participants expect that the supply of feed grain will increase due to the lack of quality. Even the most recent attack by Russia on a port on the Danube in Ukraine was only able to curb the losses in the USA for a short time, so that they continued to ease during yesterday's trading session. According to the latest UCAB publications, last month Ukraine was only able to get around 2.3 million tons of grain out of the country. This corresponds to a decline of 40% and thus Russia has achieved its goal of severely disrupting Ukraine's export business.On the other hand, the export quantities of oilseeds increased, amounting to 330,000 tons and thus corresponding to an increase of 37%. According to the USDA, US export bookings last week totaled 421,000 tons, at the higher end of analysts' expectations. Especially in the Middle Kingdom, the grain was delivered and sold. The corn contracts on Euronext ended trading with slight losses. These were somewhat stronger on the stock exchange in the USA. Weak indications from the wheat markets as well as the disappointing export figures weighed on the mood. Around 455,000 tons of corn were booked, according to the USDA. The result was therefore below the expectations of most market participants.