Ukraine

On commodities, soybean prices have reached a two-week high due to hot US weather potentially affecting supply. The International Grains Council also slightly reduced its soybean production estimate recently. Meanwhile, wheat prices rose by 3.5% after Ukraine sought retaliation for a Russian attack on its ports. According to Poland’s public radio, the EC is considering subsidizing the transport of Ukrainian grain through its member states. The estimated cost of subsidies may be around EUR 30 per ton of grain.