“Cereal Prices Remain Pressured as Chicago and Euronext End in the Red”

The pressure on prices remains topical at the beginning of the week, and in particular for cereals. Chicago and Euronext end in the red once again. As explained yesterday, even if the future of the corridor is more than uncertain in the Black Sea, stocks and harvest prospects are very satisfactory for the time being. In the United States, corn and soybean plantings are making very good progress thanks to good weather conditions. As of May 8, 49% of corn surfaces are sown against 42% on average for five years and 21% in 2022 on the same date. In soybeans, 35% of sowing sites have been completed compared to 21% on average over the last campaigns and 11% in 2022. The growing conditions for wheat are improving slightly, even if crops are still penalized by drought.