World: Grain market higher again after dip, proteins tight

Maize (Corn)

Grains, Cereal & Legumes

Brazil

Semolina

Published Dec 19, 2023

Tridge summary

The euro has shown a corrective movement in the past two weeks, fluctuating in anticipation of interest rate decisions. Water levels in the Panama Canal are causing delays for cargo ships, impacting the energy trade and causing problems for the grain market. Protein availability is tight, with the price of soy significantly higher than turnip, and by-products like beet pulp and wheat semolina are also experiencing shortages due to various factors like lower production volumes and waiting for new products from Argentina.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The euro has shown a corrective movement in the past two weeks. After the upward movement in November, the price movement has briefly corrected downwards and is now back up to the level at the end of November. The price has been moving in anticipation of the interest rate decisions of the FED (13-12) and the ECB (14-12). Water levels in the Panama Canal in particular are still a major problem for cargo ships. Ships have to wait and obtaining a time slot to pass through the canal is becoming an increasing problem. Some ships are sent down-pass (via Chile), increasing the trip from ~23 days to ~32 days. The energy trade in particular is experiencing problems from this, because it is a popular route for a lot of gasoline from the US to the west coast of South America. The water level in the Amazon is also extremely low, even though this is the low water season, the water is much too low. Grain market is rising again The grain market showed a dip at the end of November, after which ...

Source: AkkerbouwActueel