Miller Magazine Issue: 121 January 2020

Dynamics of the grain trade The grain market could be described as relatively predictable a few years ago. However, the market is bracing for some additional uncer- tainties beyond their own dynamics. In recent years, global grain mar- kets faced increased volatility, directly impacting stakeholders of the food chain. We can list some key factors affecting the grain trade as geopolitical uncertainties, increased regulatory compliance issues inc- luding financial regulation, changing consumer demand, climate chan- ge, opportunities presented by digitalization, and increased pressures for traceability throughout the supply chain. Price volatility makes planning for farmers and buyers all over the world extremely difficult. Price volatility in the food supply chain th- reatens the long term competitiveness of agriculture. Therefore it is important to identify the drivers and factors causing market volatility. In that regard, we want to give further insight into these factors in our first issue of 2020. We interviewed leading commodity market consultants like Dmitry Rylko, Director General of the Moscow-based Institute for Agricultural Market Studies (IKAR); Andrey Sizov, Managing Director of SovEcon and Mr. Pedro Dejneka, Partner and Co-Founder of MD Commodities. International Grains Council (IGC), an intergovernmental organization providing accurate, unbiased information for the grain markets, also contributed to the cover story. In its article, IGC secretariat brings you a good landscape of what would be the main opportunities and chal- lenges for the year 2020 on the grains and oilseeds market. Furthermore, Natalja Skuratovic, Senior Manager Sales at PETKUS and Christina Serebryakova, Head of Analytical Department & Agricul- tural Commodities at Atria Brokers analyze the latest developments in the market for Miller Magazine. I want to thank them for their contribution to give us a better unders- tanding of the dynamics in the grain trade. Have a pleasant reading! editor Namık Kemal PARLAK company/miller-magazine millermagazine MillerMagazine Parantez Publishing and Congress Ltd. Gökevler Mah. 2312 Sok. No:16/37 Ginza Corner Plaza, Esenyurt / İstanbul - TURKEY T. +90 212 347 31 64 F. +90 212 212 02 04 www.millermagazine.com info@millermagazine.com On Behalf of Parantez Publishing and Congress Ltd., Owner Zübeyde Kavraz Responsible Manager Muhammed Akatay Editor-in-Chief Namık Kemal Parlak Editors Mustafa Yağmurlu Cemalettin Kanaş Sales and Marketing Ahmet Açıkgöz Inji Aydash Burcu Çetin Art Director and Visual Design Alparslan Murat Aysu Corporate Communication Executive Derya Gülsoy Yıldız Consultancy Board Ali İhsan Özkaşıkçı, Chairman of AUSD Mesut Çakmak, Chairman of GUSAD Erhan Özmen, GUSAD Honorary Chairman Bekir Bağış, Chairman of Çukurova Flour Industrialists Association Hasan Özmermer, Board Member of Özmermer Flour Derviş Toprak Mehmet Şerif Gültay Zafer Ergezen Referee and Scientific Advisory Board Prof. Dr. Mustafa Bayram Prof. Gustavo Sosa Prof. Dr. Hazım Özkaya Asst. Prof. M. Kürşat Demir Asst. Prof. Halef Dizlek Asst. Prof. Harun Dıraman Asst. Prof. Mustafa Erbaş Publication Type Periodic (Monthly) Printing - Baskı İhlas Gazetecilik A.Ş. Merkez Mah. 29 Ekim Cad. No: 11 A 41 Yenibosna-Bahçelievler-İstanbul Tel: 0212 454 30 00 All copyrights belong to Parantez Publishing. © May not be used without permission. Responsibility of the ads belongs to the advertisers. ISSN 1309-6125 Copyright Page