Italy: Durum wheat in free fall, soft wheat stabilizes

The article provides an overview of the current situation and future trends in the Italian and global agricultural market, with a focus on the pricing and supply of various grains, including wheat and corn. It highlights the recent decrease in prices in Italy and France, in line with the holiday season and European market trends. The article also discusses the impact of new sowing and production estimates, currency trends, and climate uncertainty on Community prices. It mentions the effect of the USDA post report on US grain production and prices, and the market's reaction to these factors. Additionally, it touches on the market's wait for the Easter rains in Italy and the potential of the 2023 harvest to surpass 8 million tons, assuming new rains in April. The article also briefly discusses the quality and pricing of different wheat types in Italy and France, and the market's anticipation of the new harvest and its expected price increase, with some risk of retention if crop costs approach break-even levels. Overall, the article provides a comprehensive view of the current state and future directions of the agricultural market, including concerns about climate uncertainty, potential delays in planting, and the influence of various factors on prices and production.