By the end of April, grain prices in the European Union rushed up

Published 2024년 4월 24일

Tridge summary

Wheat, corn, and rapeseed prices have surged due to concerns about the upcoming harvest in the Northern Hemisphere, with excessively wet conditions in north-west Europe and worries about regional wheat growing conditions in the US. The European Union's MARS yield assessment has indicated negative impact on yield potential and difficult planting conditions, particularly in Ireland and the UK. In the US, grain prices have reached their highest level for wheat since early March, with the USDA announcing that the condition of winter wheat has worsened.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Given the high risks that traders currently see, wheat prices have jumped sharply for both old and new crops. This is reported by AgroXXI.ru with reference to a message by German agricultural analyst and grain market observer Dr. Olaf Zinke in an article published on the portal Agrarheute.com. According to Agritel analysts, having risen to more than 215 euros (editor's note: 215 euros = 101,265 tenge) per ton, Euronext wheat as of May 2024 has reached the price level at the end of January. The observed price fluctuations were significant and reminiscent of the high volatility of last summer. Prices for the new 2024 harvest increased on April 22 to 223 euros (Editor's note: 105,033 tenge) per ton. Corn prices also followed an upward trend and reached 206.50 euros (Editor's note: 97,261.5 tenge). Prices for corn from the 2024 harvest rose to 204.25 euros (Ed. Note: 96,201.75 tenge) per ton. The same concerns about the upcoming harvest are also driving up rapeseed prices. The ...

Source: Agrosektor