Spain: Cereal markets await the extension of the agreement with price moderation
Spain
Published Mar 13, 2023
Tridge summary
The cereal markets have started on Monday with prices falling, except for slight increases in Paris, and with expectation before the meeting in Geneva on the agreement to export grain from the Black Sea ports. The merchants have "assumed" that it will be renewed.
Original content
The prices in the Spanish markets and in the reference markets in recent days have registered a downward trend, which reflects the feeling of the operators that the pact will continue, which is added to reports on the harvest gauging that is somewhat more favorable . "We have assumed that the agreement (between Russia and Ukraine and with the mediation of the UN) will be renewed, the opposite would be a surprise," the secretary general of the employers' association of wholesalers of grains and oilseeds Accoe, José José Manuel Alvarez. Even Russia, he has pointed out, is interested in prolonging it, despite his statements, since he is interested in giving out his cereal. This Monday the European stock market operator Euronext in Paris has registered slight increases in the prices of wheat (up to 2%) and corn (1.75%) but with drops in the price of rapeseed (up to -9 %). On the contrary, in the Chicago stock market the downward trend continues: in the case of wheat, at 1:30 p.m. ...
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