World: View of grain and oilseed markets on 14 November 2022
영국
게시됨 2022년 11월 15일
Tridge 요약
This week's view of grain and oilseed markets, including a summary of both UK and global activity. Renewal of the Ukrainian export deal will be key to price direction short and long term. Volatility is expected as the market awaits news this week. Longer term, Southern Hemisphere supply and recession impact on demand will be key. A tight global supply and demand balance, supports maize markets short and longer term. Short term, the market remains reactive to news from Ukraine.
원본 콘텐츠
Longer term, South American crop size will be important to price direction. Barley markets continue to follow the wider grain complex, supported by tight supply and demand outlooks. Global grain futures felt pressure last week due to competitive Russian wheat exports, general optimism for a renewal of the Ukrainian grain export corridor, and positioning/reactions to the USDA World Agricultural Supply and Demand Estimates (WASDE), see more below. A deal has still not been met between Russia, Ukraine, and the United Nations to extend the grain export corridor from Ukraine. The deal is set to end on Saturday (19 November). In negotiations, Russia is reportedly calling for a Russian state bank to be reconnected to the international SWIFT payment system. This is to boost Russian exports of grain and fertiliser that have been impacted by western sanctions (Refinitiv). The G20 meeting in Indonesia is taking place this week, which could bring increased rhetoric to renew the deal. The ...