Global cereal prices fell to a new low; continuous rain does not stop the price drop

Grain prices fell to a new low. On Friday, the price of wheat slipped below the limit of 220 euros per ton. Not even constant rain can stop the price drop. Prices continue to fall in the USA as well. This is due to the continued strong price competition for Russian wheat. Polish farmers are blocking the crossing on the Ukrainian border. The price of wheat fell below EUR 220 per ton on the futures market on Friday. The weekly loss was high, EUR 8 per ton. The subsequent March contract also fell to a new low of €225/t. The reason: Black Sea competitive pressure dominates the market and determines prices, Agritel analysts say. However, demand is too weak to reverse the trend. EUR's rise to 1.095 against the dollar adds to downward pressure. Corn prices held up much better. The March 2024 contract fell just €1 per tonne last week and is trading just below €205/tonne. In France, due to the improved weather conditions of the past week, harvesting and sowing work has accelerated. This ...