GGO provides a longer term, opinion based outlook for grains and oilseeds markets, complimenting our regular insights, S&D and price forecasts

-Grain Price Forecasts (US, EU, UK)
-Grain and Oilseeds Analysis
-Global Balance Sheets
-Prices

In this report, we focus on the recent escalation of the conflict in the
Middle East and the implications for grains and wider commodities and trade.

The USDA, in its Wasde crop report yesterday, highlighted the dent to the EU’s wheat export fortunes from strengthened competition from Russia, whose strong 2023 harvest and low prices have enabled “unabated shipments”.

Highlights:

• Rapeseed - Crude oil, weather, politics stir up price volatility
• Soybeans - Argentine harvest, US sowings keep market stable
• Crop Watch - Europe’s weather to turn drier?

The persistence of wetness in western Europe has added support to the outlook for barley prices.

Report Highlights:

• Wheat - Prices find support, as geopolitical jitters grow
• Corn - Early signs positive for US corn, but harvest a way off yet
• Crop Condition & Weather - European outlook for May and June

Highlights:

• Rapeseed - New crop prices outperform, as EU worries mount
• Soybeans - Market weighs Argentine harvest and US sowings
• Crop Watch - Australia’s east-west moisture divide

Report Highlights:

• Wheat - Prices hold steady, digesting signals on 2024 prospects
• Corn - US area figure sparks, short-lived, price rebound
• Crop Condition & Weather - US wheat ratings, Australia outlook

Overview of the March US Prospective Plantings report from the USDA

Highlights:

• Rapeseed - Signs of tighter supplies lift prices to five-month high
• Soybeans - Market conditions calm, but does a storm lie ahead?
• Crop Watch - Southern Russian dryness gains market attention