European market

All products showed a slight increase at the close last night on Euronext. The bearish USDA report weighs less on European prices at the moment.
The EU market remains focused on short-term dynamics with a significant weight of geopolitical and macroeconomic elements.
The appeasement of Donald Trump's words towards Iran weighed on crude oil prices yesterday, but the WTI nevertheless managed to held close to the key level of $60/barrel given the persistent instability of the situation.
EU grains and oilseeds benefited yesterday from a new decline in the euro/dollar which came to test the 1.1600 area at the lowest for a month and a half. While the latest US economic indicators once again make traders doubt the FED's future rate cuts, in Europe the Greenland issue is perceived as a weakening point for the euro.
In Ukraine, the infrastructure of the entire grain sector continues to suffer from the conflict, which slows down the pace of exports and at the same time strengthens the needs of EU importing countries.
On the international scene, the firm feed barley market is animated by the purchase of 210,000 t by Turkey. In wheat, the animation came yesterday from a call for tenders launched by Saudi Arabia for 595,000 t. 
As every year in January, the eyes also turn to the production potentials of South America. The Conab report in Brazil announced yesterday official production forecasts of 176.12 Mt of soybeans and 138.87 Mt of corn.

American market

Corn on Chicago continues to suffer from the bearish USDA report published on Monday evening, wheat follows out of sympathy. Funds remain present for sale on corn and to a lesser extent on wheat, especially since the weekly export figures disappointed yesterday in grains. In this context, corn is testing the support of $4.2/bushel as last August. 
The soybean diverges and is moving upwards in the wake of its oil. The funds were present for the purchase yesterday on these two products, welcoming the rumours of progress about the regulations on biodiesel. However, the opinions of US analysts differ and do not share the enthusiasm of the market on this subject. Export sales of soybeans are also considered favorable. 
The weekly export sales published yesterday by the USDA are:
Wheat: 156,000 t 
Corn: 1.14 Mt
Soybeans: 2.062 Mt.
In addition, the USDA announced yesterday new exceptional export sales for 749,000 tons of US soybeans, including 204,000 t to China and 470,000 t to unknown destinations. The sale of 760,302 t of corn, including 260,000 t to Japan and 500,302 t to an unknown destination were also reported. 

Black Sea market

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