Black Sea Tensions and Disappointing Harvests Drive Global Grain Markets

The global grain market remains firm due to ongoing issues in the Black Sea region. Turkey has proposed an initiative to allow navigation to resume, but markets will remain sensitive to any news on this front.

The UN General Assembly is taking place in New York with Ukrainian and Russian representatives attending. Markets are closely watching for any developments that may impact grain exports from the region.

French maize prices have strengthened due to disappointing yield results, reaching €276/t for Nov-26. Agritel notes that this price level is uncompetitive for EU end-users, who may opt for substitution with other cereals or imported non-EU maize.