Market update week 10
Poland calls for European measures against Russian and Belarusian agricultural products. Food has so far not been part of sanctions against Russia. With many farmers’ protests, politicians are feeling more and more pressure to do something. As long as prices were high, it was politically impossible to sanction food products. Now that food prices have been falling for almost 2 years, such sanctions are becoming negotiable.
Poland calls for European measures against Russian and Belarusian agricultural products. Food has so far not been part of sanctions against Russia. With many farmers’ protests, politicians are feeling more and more pressure to do something. As long as prices were high, it was politically impossible to sanction food products. Now that food prices have been falling for almost 2 years, such sanctions are becoming negotiable.
Corn is holding up better and has not reached a new low since February 19. China’s recent purchases of Ukrainian corn have provided some relief to the European market. US corn fell behind due to competition from Ukraine and South America, as well as sadness over not being purchased by China.
Corn is holding up better and has not reached a new low since February 19. China’s recent purchases of Ukrainian corn have provided some relief to the European market. US corn fell behind due to competition from Ukraine and South America, as well as sadness over not being purchased by China.
Rainy weather continues to be a challenge for the advancement of sowing operations in France with regard to new harvests. Spring barley sowings are moving slowly, according to FranceAgriMer. Just 1% more was planted this week than the previous, accounting for 27% of the total area sown. Compared to last week, durum wheat plantings have increased by a similar 1 point, with 91% of the planned area now being sown. Monitoring of crop condition is also being done; winter crop ratings have slightly decreased. 68% of the panel examined have wheat in « good to excellent » condition, a one-point decrease from the previous week. For winter barley, the drop is comparable; currently, 70% of the region is in « good to excellent » condition.
Rainy weather continues to be a challenge for the advancement of sowing operations in France with regard to new harvests. Spring barley sowings are moving slowly, according to FranceAgriMer. Just 1% more was planted this week than the previous, accounting for 27% of the total area sown. Compared to last week, durum wheat plantings have increased by a similar 1 point, with 91% of the planned area now being sown. Monitoring of crop condition is also being done; winter crop ratings have slightly decreased. 68% of the panel examined have wheat in « good to excellent » condition, a one-point decrease from the previous week. For winter barley, the drop is comparable; currently, 70% of the region is in « good to excellent » condition.