Global: Durum wheat awakens from the hibernation of recent weeks
Durum Wheat
Algeria
Sorghum
Australia
Published Jan 13, 2024
Tridge summary
The autumn sowing estimates confirm a decline in surfaces for certain crops, impacting price lists and market sentiment in Italy. There are discordant signals between the North and Centre-South regions, with signs of recovery in demand for durum wheat in the Centre-South. Internationally, there is strong competition and volatility in the market, particularly between Australia and Argentina, with operators already looking to spring shipments and 2024 planting estimates for North American springs.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The estimates of autumn sowing have an impact on the price lists, confirming a decline in surfaces. Reductions for corn, the rise of soybeans also stops Durum wheat, eyes focused on foreign markets Italy For durum wheat, compared to last week, there are discordant signals between the North, unchanged, and the Centre-South, which shows signs of recovery after a long period of static demand and waiting for supply. The news from the purchase auctions in the southern Mediterranean and the autumn sowing estimates which confirm a decline in surfaces weigh on sentiment. Despite the huge arrivals of foreign products, our markets are once again looking abroad, where prices for milling quality remain proportionately higher. The milling sector maintains an adequate level of coverage, while resales are returning (also for exports?). Upon reopening, the hard "Fino" is worth around €385-395/t delivered to the mill, with the merchant ships at a discount of €30-65/t in the Centre-North and ...
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