Grain markets stabilize amid Black Sea uncertainty and Tunisian tenders

Global grain markets are experiencing a period of stagnation as buyers adopt a wait-and-see approach. This trend is driven by expectations of a potential breakthrough in Black Sea shipping security, despite recent diplomatic efforts at the UN failing to reach a definitive compromise between Russia and Ukraine.

In Europe, wheat prices on Euronext fell slightly to 238.50 euros per tonne, while Chicago wheat prices also saw a decline. In the United States, soybean markets have been impacted by a lack of concrete commitments following recent high-level diplomatic visits involving China.

In North Africa, Tunisia has launched an international tender for 100,000 tonnes of durum wheat, following a previous purchase of 200,000 tonnes of soft wheat and barley. Notably, the Tunisian Cereals Office has included specific clauses in this tender to mitigate risks associated with the Black Sea conflict, stipulating that suppliers cannot invoke the war in Ukraine as force majeure to avoid delivery obligations.