Agri Commodity Markets Research July 2022: Hot Corridor

The S&P GSCI Agriculture Index has lost 6% so far in July, a move primarily driven by lower new season corn prices and lower vegetable oil prices. This contrasts to the extreme heat in the US, which threatens corn, soy, and spring wheat yields. EU spring crops are also suffering. Meanwhile, uncertainty about the Ukrainian grain export corridor remains, but if it materializes – and combines with high Russian exports – we could see a further dip in the wheat market. However, a big drop in Ukrainian winter wheat plantings is expected, which will support the market later on in the year, deal or no deal.

Download previous editions

  • Carlos Mera

    Head of Agri Commodities Markets
    Read more
  • Michael Magdovitz

    Senior Commodity Analyst
    Read more
  • Paul Joules

    Junior Commodities Analyst
    Read more