What's new in the agricultural market ?

Oilseed complex

Last week was rich in reports which confirmed the soya production losses in South America – mainly in Argentina but also in Brazil. The tightness of the soya complex contrasts with the very good supply of rapeseed and sunflower in Europe and throughout the world. Record production in Australia and buoyant canola exports in Canada are still putting prices under pressure.

Cereals complex

The sluggishness of the wheat balance sheet in the short term is adding to the very uncertain economic context. The abundance of Russian and Australian wheat is still the key factor. Despite a very tense political situation in the Black Sea with doubts about an extension [to the export corridor], the cereal complex is still on a bearish trend. As winter draws to a close in the northern hemisphere, crop condition will be the key factor to underpin wheat. Lastly, the focus will soon be on the maize balance sheet. Brazil's maize production will have to ease the balance sheet which looks set to be tight.

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