Foggia wrote a plus 5 on the hard wheat; the Greek FOBs are biting towards 290 euros

Published 2024년 9월 26일

Tridge summary

On September 25 in Foggia, wheat prices increased by €5 per tonne across all grades, with quality wheat now at 315-320 euros/ton and second quality at 305-310 euros/ton. This rise was expected due to Turkey's shift in sales strategy and Canada's poor quality year despite high production. Italy's domestic prices are rising slower than the global market. Turkey is exporting wheat at 290-295 euros per tonne, aided by a low dollar. In Canada, the durum wheat harvest is nearly complete but yields are lower than the decade average, with total production likely below the official estimate of 6 million tons.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Initially, the meeting in Foggia on 25 September saw prices increase by €5 per tonne for all grades. In more detail, the commercial center of the Italian South gives the quality wheat with a specific gravity of 79.5-80 kg/hl, vitreous 80% and protein 12-12.5% a merchant warehouse price of 315-320 euros/ton and the second quality with a special weight 78 kg/hl, vitreous 65% and protein 11-11.5% merchant warehouse price 305-310 euros/ton. The relevant Foggia price list is available here. This first micro-movement in the indices was expected for at least two weeks, as on the one hand Turkey is gradually changing its stance on its sales and on the other hand Canada is experiencing one of the worst years in quality in the last decade, although exuberant in tonnage. It should be noted here that Italy is the penultimate country -followed in last place, of course, by Greece- to experience the upward trend in domestic prices that the rest of the market has experienced since the beginning ...
Source: GRAgronews

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