Durum wheat holds up to the depressive push, declines on soft wheat in Italy, Europe, and the world

Published 2023년 3월 3일

Tridge summary

The global stock market decline and record harvest in Brazil have led to a decrease in soybean prices, with weak trades in corn and soft wheat. Concerns about global availability have been alleviated, but local origins are scarce for blends, leading to lower prices for national origin products in Italy and Bologna. The market remains lively due to falling prices, which stimulates hedging for the 2023/24 perspective. There is optimism for the renewal of the corridor for Ukrainian product exports and a large offer from Russia. The market is also monitoring the progress of the new harvest and the evolution of the North American offer. Prices remain around $450-460/mt for milling quality lots, and there is uncertainty about the euro/dollar exchange rate.

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

Original content

The generalized declines on international stock exchanges also affect soybeans after months, due to the record harvest in Brazil. Weak trades on maize Soft wheat, the descent resumes Italy It seems that the doubts about global availability and from the Black Sea have cleared up; the Stock Exchanges materialize the news with reductions also for national origin between 3 €/t in Milan and 6 €/t in Bologna. Product availability adequate to market demands, but local origins are scarce for blends in favor of community and foreign replacements, with a greater supply for strength grains. The arrival of rains in the North temporarily improves water stress, but the situation is still unresolved. Markets that quote the situation in real time and tend downwards, with "Bologna-type" wheat arriving in the North dropping to €390-400/t returned, with superior bread-making products below €350/t and "mixed" ones around €315-320 €/t; declining community "base", strength and "spring" in North ...

Source: Terraevita