Global arable market report: March 6, 2023

Published 2023년 3월 6일

Tridge summary

The article discusses the short-term volatility in global grain markets as the renewal date for the Ukrainian grain corridor deal approaches. The deal, which allows for the export of Ukrainian grain through the Black Sea, is expected to be extended, but concerns about drought in Argentina and Russia's unhappiness with the agreement could impact prices. Major grain markets, including Chicago and Paris, experienced slight pressure last week but remain volatile. Additionally, concerns about Argentina's crop yields and the large Brazilian soybean harvest could further impact the market. The USDA's upcoming World Agricultural Supply & Demand Estimates report is also being closely watched for its predictions on Argentinian soybean crop yields and US soybean ending stocks.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Short-term volatility is expected as the Ukrainian grain corridor deal renewal date approaches. Currently, optimism surrounding the agreement and cheap Russian supplies weighs on prices, though South American weather issues could limit any major losses to grain markets. Argentinian crop concerns could add some support to prices though generally a big South American crop can still be expected. Maize prices could also be impacted by demand news, with the latest WASDE due this week. Barley prices continue to follow the wider grains complex. Global grain prices generally came under slight pressure last week, though volatility remains as we approach the 19 March deadline for the Black Sea Initiative renewal. However, the ongoing drought in Argentina capped any major losses in grain markets last week. Chicago wheat and Paris wheat markets (May-23) fell 1.8% and 1.7% respectively over the week (Friday-Friday) as expectations that the deal in the Black Sea region to export grain from ...

Source: Ahdb