Durum wheat, wait-and-see positions awaiting the response from the threshers in Italy

Published 2023년 6월 23일

Tridge summary

The Italian agricultural market is experiencing stable quotations with international pressures pushing prices up. The new harvest shows a decrease in yield and product quality compared to 2022. Demand is cautious as quality negotiations are ongoing, with a strong recovery in international quotations and concerns about the maintenance of the Black Sea "corridor". The daily price volatility is limiting trade, with mills being cautious and demand being more active in the livestock sector and from ports. Prices are consolidating upwards due to water stress in US and Canadian crops, with Russia winning the Algerian wheat auction. The future of trade and prices will depend on the renewal of the Black Sea "corridor" beyond July 18.

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

Original content

The quotations remain stable on the Italian markets, but at an international level there are already upward pressures. Soybeans are flying again, maize is also on the rise Soft wheat, new harvest and geopolitical uncertainties are the bullish factors Italy Harvest has just begun with responses to be verified, although it could be a crop not affected (as estimated so far) by high toxin levels, but with reference to 2022 with a drop in yield/ha and product quality (specific weight) and average protein content. Demand that waits to fully understand the quality to be negotiated, with a cautious offer in guaranteeing the specifications; more certainties with next week. It remains to place the volume of grains of national strength, while the "mixed" homegrown old crop is finished. Commodity Exchanges which maintain the choice not to quote local wheat, with EU and foreign markets recovering above all in strong grains: EU bread-making products out of 255 arrivals and EU strengths around ...

Source: Terraevita