A new period of confusion for the grain markets

In brief: • The Black Sea region remains highly contentious • Australia is preparing to dominate the Asian markets A new, yet very confusing week begins for the grain exchanges and markets. In Paris, wheat prices are hovering "on thin ice" at 190 euros per ton, with some analysts seeing the possibility of growth in the coming days, driven by stable demand and good competitiveness for European origin. However, others see a threat to prices from increased competition from Argentina, whose wheat production is estimated at 23 million tons according to Argus Media. This volume is expected to significantly increase export supplies in the coming weeks. In the Black Sea region, the situation also remains contentious. On the one hand, Ukraine is lagging in deliveries since the start of the season by 37% year-on-year. Wheat exports have fallen by 21%, and corn exports by 68%, calling into question the country's position as a key exporter from the region. From a market perspective, according ...