European wheat market: French wheat prices rebound, but export competition limits increase

As of Thursday (November 27), the delivery price for top-grade French wheat at the port of Rouen was $228 per ton, up $2 from a week earlier. The price range over the past 52 weeks was $224 to $252 per ton. The price for second-grade wheat from Argentina's Upper River was $208 per ton, down $3 from a week earlier; U.S. hard red winter wheat was reported at $245 per ton, up $4; U.S. soft red winter wheat was reported at $237 per ton, up $1. From the futures market trend, on Friday (November 28), the most active March wheat futures on the Euronext exchange closed at 188 euros per ton, down 4 euros or 2.08% from a week earlier. Chicago wheat fell 0.23% over the past week. In terms of spot prices, this week's French wheat exports provided some support, including 65,000 tons of wheat to Egypt. However, the overall export pace remains weak, continuing to face pressure from ample global supply. The Argentine Grain Exchange on Thursday raised its forecast for 2025/26 Argentine wheat ...