Miller Magazine Issue: 135 March 2021

87 MARKET ANALYSIS MILLER / march 2021 DEEP BLUE OCEAN The grain market is trying to turn around. Oil prices continue to fall. The market is awaiting the outcome of the OPEC + ministerial meeting on March 4. SWOT under pressure from low export sales due to lack of Chinese demand. $ 1.9 trillion bailout package bolstered by congressional indices. Elena Faige Neroba Business Development Manager Maxigrain CORN The market is supported by delayed seeding in Brazil. The main bearish factor is the absence of China in the mar- ket. In general, the price scenario of the current season so far strongly resembles 2008. The price of corn in China is 340 USD on CFR China port terms, according to the China Oilseeds telegram channel. The price continues to rise on the back of a decline in corn production last year, as well as a change in the subsidy po- licy for corn producers. The limited supply on the market is also driving up the price of corn. The Chinese authorities deny that the harvest in the current season was less than 260MMT, and according to market estimates, only due to this factor, the deficit could be about 26MMT. In addition,