Discover the latest news of the agricultural market with Agritel
October 28, 2022
Good local demand throughout the world is counterbalancing the situation in Europe where buyers are still particularly muted. International buyers are starting to buy again and have doubts about European supply, given their concerns about the closure of the corridor from Ukraine. With regard to the competitiveness of EU crop on the international market, the potential for an increase is thus there in the event that the corridor closes.
In the medium term, the weather in South America (for soya), Australia (canola) and Asia (palm oil) will be monitored.
The market is being constantly fuelled by geopolitical news, and there has been much anticipation over the last few days. The risk premium associated with the closure of the export corridor, however, seems to be petering out and prices are no longer underpinned by the numerous announcements. The market seems optimistic about the outcome of the talks and future exports. At the same time, the falls in maize production in the northern hemisphere seem to have been integrated by the market. The weather risk is still in the limelight, however, given the uncertainty following the floods in Australia, whilst Argentina’s production has just been revised down.
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