Miller Magazine Issue: 153 September 2022

MARKET ANALYSIS 97 MILLER / SEPTEMBER 2022 From the one hand Ukrainian crop entered market via grain corridor increasing global supply making bread cheaper for everyone – doesn’t matter in which country you are. In August more than 60 vessels delivered 1,5MMT from Ukrainian Greater Odesa ports. From another hand, war still not over, farmers are not sure they will plant winter wheat and will exports reach target volume in 5-6MMT/ month and weather all over the world brings un- certainty and supports price. Abducet praedam, cui occurit prior. We have to be ready. US agricultural markets ended another good week with big gains after realizing some of the problems with crop produc- tion in the US, Europe and China caused by the heat and associated drought that took place during this summer. Parts of north-central Texas did not record any measurable rain- fall for more than two months, the second longest dry spell, dating back to 1898. However, this week's rain was the sec- ond-heaviest rainfall in 24 hours, and interrupted data trans- mission, causing the weather service to be unable to fully update the drought monitor for this region. U.S. corn yields could be hit this year by prolonged heat and drought, while soybean crop remains promising, Pro Farmer 2022 U.S. crop tour final estimates show. Elena Faige Neroba Business Development Manager Maxigrain We have to be ready: grain equilibrium