On Thursday soybeans price in Chicago collapsed. Against this backdrop, the decline in corn and wheat is negligible. In Paris the rapeseed collapsed, and wheat and corn fell by 1 EUR / tonne.
The EUR / USD index went up to 1.1095.WTI crude oil dropped slightly to $ 48.72 / barrel.

Oil went cheaper on Thursday, with both major oil varieties declining by 0.20%, with WTI crude oil trading at $ 48.97 and European benchmark Brent at $ 52.09 per barrel at 9:40 hour  Bulgarian time. Traders expect the OPEC meeting next week. Then it has to be decided whether the cartel will extend the agreement on shrinking oil production.

Weekly export sales of US wheat, corn and soybeans have been above the market expectations. The  many rainfalls in the US and low temperatures will continue to afftect the prices. Precipitation can only damage wheat now. For soybeans and corn, they will later prove beneficial. However low temperatures slow the growth of corn and soybeans, which may be a problem in the coming weeks. In the coming days the main rainfall in the United States will be over Texas, Oklahoma, Kansas and some surrounding states. Just where wheat is at an advanced stage of development and the diseases are waiting to reduce quality and yields.

Politics again strongly influences global financial and grain markets. The scandal surrounding the Brazilian president sent the real 8% lower on Thursday. This immediately reflected dramatically  the price of soybeans in Chicago. With this decline in the Brazilian currency, soybeans exports from the country are becoming more competitive, farmers can open sales that have up to now retained, and the demand from the United States shrinks drastically.After 1 - 2 months this will also be valid for the corn. By keeping this exchange rate, the supply of Brazilian products will grow significantly in the coming months.

So far there are no big problems with the wheather in the world. In general it is beneficial for the development of all cultures everywhere. Some  more rain is needed in Bulgaria and Romania to achieve good yields. The main thing is to have no heat until mid-July. So far the weather is cool and damp, which is excellent for wheat and not good for corn and sunflower, but that's the situation.

Policy continues to influence the markets. The turbulence in the the USA, and now in Brazil, is changing the world markets substantially. There is a volatility from which  some earn, some lose. In the recent weeks the US currency has weakened against the euro, and this creates a competitive advantage for the US production. In the new season we will export grain more difficult from Bulgaria, i.e. cheaper. The auction in Egypt showed that the United States offers very competitive wheat, which at C & F prices is at the level of the cheapest offers from the Black Sea region. The United States has much and quality wheat that can safely be delivered to North Africa instead of the Black Sea wheat. The same is valid for the corn. Apparently American farmers have become accustomed to the fact that prices will be low and now the issue is to sell for the purpose of releasing the warehouses for the new crops.

Wheat prices - yesterday wheat in Chicago dropped slightly as the pricewas suppressed by the decline in soybeans and corn. In the week  5 -11 May, export sales of wheat from the US are at the level of 247,600 tonnes of old crop + 393,100 tonnes of new crop. Exports reached 673,203 tonnes. The biggest buyers were China, Japan and others. Strategie Grains estimates that wheat production in the EU is slightly below its previous forecast of 142.7 million tonnes and exports will be 26 million tonnes.

Soy prices - Yesterday soybean prices in Chicago collapsed by 23 - 31 cents / bushel suppressed by the weakened Brazilian real. Immediately Brazilian farmers' sales grew. In Mato Grosso farmers sell soybeans at 8.16 USD / bushel. Export sales of soybeans were 355 300 tonnes + 41 500 tonnes. Exports reach 345,400 tonnes. Sales of soybean from the old crop are very good. But from the new crop are not. Brazil is overshadowing everybody at this moment. Sales of soybeans meal from the United States were 113,600 tonnes + 60,300 tonnes and soybean oil 14,900 tonnes + 600 tonnes. Argentina  has  harvested 74.7% of the soybeans crop.

Corn prices - yesterday Chicago corn futures fell by 4 to 5.5 cents / bushel. Export sales of US corn  were 705 300 tonnes + 168 000 tonnes and exports 1 543 400 tonnes. Sales were above those from last week, but failed to bind the price of the culture given the sharply increased forecast for corn exports from Brazil. Authorities in China have auctioned 3.56 million tonnes of corn from the proposed 4 million tonnes of crop 2013. Corn harvests in Argentina are progressing slowly to 33.1% at 31.8% of the area a week earlier.