Spain: Stable cereal market due to the lack of agronomic and geopolitical news
Spain
Published Oct 27, 2022
Tridge summary
In the León market session held yesterday in Santa María del Páramo, stability in the price of cereals with a slight correction of €1/t, both for wheat and corn.
Original content
The markets are waiting for geopolitical news in the Ukraine conflict, mainly because on November 22 the agreement between Ukraine and Russia that facilitates the export of grain via Turkey expires, although today, they are very slowed down by Russia The planned objective has already been partially met, since to date almost 9,000,000 tons of grain have left the Ukrainian ports; exports by rail and road have been practically testimonial due to the high cost. In the agronomic aspect, no surprises are expected from now on, since the worldwide production data will practically not vary, and from now on the focus will be on the sowings of the new campaign. As for Europe, it will be necessary to take into account that the new reform of the CAP comes into force, which may influence the sowings to comply with the reinforced conditionality and the eco-regimes, and there may be a drop in cereal surfaces. In the bean sector, a rise of 10 cents per kilo of the Riñón de León variety, mainly due ...
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