Monday was a day definitely favorable for grain prices on world stock exchanges. Wheat on Matifa hit a 3-week high yesterday, while canola and corn finished the session with double-digit gains. The price of wheat on Matifa rose by EUR 6.5/t to EUR 230.5/t yesterday, the highest since May 16. In Chicago, the price rose by 5.25 ct/bu to 624 ct/bu (214 EUR/t). The main reason for the price increase is weather conditions; France, Germany, the UK, Poland and southern Scandinavia have only recorded 20 to 40% of their normal rainfall over the past two weeks. The duration of the grain deal is in question; Ukraine has prepared a special insurance fund, and from mid-July the grain corridor would function without Russia's participation. – Much smaller crops in the 2023/2024 season are to be in Australia; – the amount of 26.2 million tonnes is expected, which is 13 million tonnes less than in the 2022/23 season. 9.9 million tons of barley are forecast (previous year: 14.1 million tons). The ...
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