Grain prices remain highly volatile. Price pressure is currently prevailing on the grain market due to the uncertainties on the international market. Just as sharply as wheat prices rose after July 17, prices have fallen again since last week.
On July 17, Russia announced that it would not renew the grain deal with Ukraine. Russia then carried out missile strikes, claiming that they were on military infrastructure. But Ukrainian President Zelensky published images of a destroyed grain store. In the seaport of Odessa alone, 60,000 tons of grain seem to have been lost. This caused tensions, partly because it was unclear how Ukrainian grain could then be exported; resulting in sharply rising prices. Putting additional pressure on grain exports. Over the past week and a half, it became clear little by little that shipments from ports on the Danube and from the Sea of Azov in Russia still continue.
Furthermore, the exchange rate of the euro has weakened against the US dollar in recent weeks. This makes European wheat cheaper to sell on the world market. Falling prices make international trade more interesting.
Trade has picked up:
In the Netherlands it is quiet on the market. Despite the changeable weather, wheat and barley came off the land fine last week. Threshing machines have been standing still for the past few days due to precipitation, so far the harvested grain has not been driven in dry. Growers hope to be able to return to the field soon.