World: Grain markets crash on last day of May on improved weather news and hope for resumption of Black Sea exports
World grain markets crashed on the last day of May, on improved weather news, but mainly on the hope of a resumption of Black Sea exports. It looks possible that Russia will allow a shipping corridor against relieved Western sanctions, H. M. Gauger GmbH said in their June report.
The bearish mood may disappear again quickly. In any case wheat remains very firm, and all commodities are firmer than in pre-war times.
Physical markets were illiquid in May, sellerless on many days, often also without frustrated buyers.
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