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Spot rates for corn and soybeans in the U.S. Midwest were mostly stable or higher on Tuesday as harvests of both crops were nearly complete and offers were up, brokers said.

France’s farm ministry on Tuesday raised its estimate of the country’s 2024 soft wheat output to 25.56 million metric tons from 25.43 million last month, still one of the smallest soft wheat harvests since the 1980s. Repeated heavy rain in France, the European Union’s largest grain producer, reduced planting and hampered development of wheat crops. For maize, harvesting of which is still under way, the ministry also raised its projection of 2024 output, including crop grown for seeds, to 14.62 million tons from 14.47 million last month. In contrast it cut its projection for the sugar beet harvest, also currently being harvested, to 33.73 million tons from 34.18 million tons last month.

Producer prices in Boeotia, Fthiotida and areas of Thessaly remain in an upward channel, with 24 cents in the producer tending to become the norm, while more northern zones such as Serres and Drama are still playing at 20 to 22 cents per kilo in corn. Imported grain is getting more and more expensive every week, hopefully at 248-250 euros a ton CIF, making it easier for feed companies to pay cash in 24 cents to stockists in Central Greece, while increased demand by 1 million tonnes from Turkey until the end of 2024 and increased FOB Ukraine, save for further positive fluctuations in Romanian CIF, perhaps up to €260 per tonne. On the other hand, of course, in Viotia and Fthiotida they often say that "we open our doors to trade from 27 cents and above" expecting better prices in the near future. In Serres, Drama and Kavala, the few kilos in the harvest and the lower prices due to pressure from Bulgaria, led most to sell at 20-22 cents, while today's prices remain at these levels. The reason is none other than the kilometer distance with the businesses of southern Greece and the price in Bulgarian. "At the same price (24 cents) that I sell corn to the farmer , the truck comes from Bulgaria and delivers product to the units, how can I give the 24 cents to the producer today?" asks the owner of a livestock business from Serres.