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    WHY DON’T MARKETS WANT TO MOVE UP?

    03 Aug 2023
    This week was yet another illustration that we are still in a bearish market. In 2022, prices went to the roof on risk and fears. In 2023, traders seem to be more used to risk. Black Sea risks continue to escalate but, for now, they consider supplies are enough to meet export demand. US crop conditions are down again but they look at improving weather conditions. Our markets usually anticipate risks by adding a premium, it is not the case anymore. Only facts count.

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