Futures Close 01/08/22

The first of the trapped bulk vessels has now left the Ukrainian port of Odessa (this morning) – as exports resume under the UN brokered deal – these ships have been in port since the commencement of hostilities.  Markets will be watching for successful inbound vessels / turnaround to fully be confident of the deal.  But its certainly a step in the right direction.

Dry conditions in France resulting in worsening maize condition – 68% of the grain maize crop was in good or excellent condition down from 75% the week prior.