Miller Magazine Issue: 136 April 2021

101 MILLER / aprıl 2021 MARKET ANALYSIS New season is coming. This one was full of memes and unpredictable, so we should be ready for the new challenges. The mar- ket is in a downtrend, which has been in- tensified after the publication of reports on grain stocks and the structure of planted areas in the United States. The demand is low. Sowing in the Northern Hemisphere lags behind last year's rates, the condition of winter crops is mostly satisfactory. Prices are also in most cases under pressure from the decline in the value of the currencies of the main supplying countries. In general, over the past 10 years, commodity markets have been the most unattractive for invest- ment: in total for 10 years, the return on in- vestment is negative. CORN China's activity is weak. The southern hemisphere has been stabilized. The market is bearish, but bulls inspired by lower than expected planting areas in the US. EU de- mand is still weak and Brazil sharply increased in ship- pings, shifted Ukraine. New Season - New Memes Elena Faige Neroba Business Development Manager Maxigrain