The growing threat of drought in Europe, also in Poland, despite this, grain prices continue to fall

Published 2023년 6월 1일

Tridge summary

Rapeseed prices on Matifa rebounded on Wednesday, but wheat and corn prices fell despite concerns about weather conditions. Wheat and corn prices fell by EUR 2/t and EUR 1.25 respectively, while rapeseed prices rose by EUR 10.25/t. The harvest in China is disrupted by rainfall, leading to less grain available for consumption. In Australia, the winter wheat area is expected to increase by 2.9% from last year. The number of net shorts on Matif has decreased sharply, but concerns about the weather in Europe and an economic slowdown in China have impacted the markets. Rabobank predicts a 8.4% increase in rapeseed cultivation area in Australia, but expects the harvest to be about a third less than the previous year.

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

Original content

Wednesday brought a rebound in rapeseed prices on Matifa, but the session ended in the red for wheat and corn. And this despite growing concerns about weather conditions. Wheat fell yesterday by EUR 2/t to EUR 218.25/t, while the CBoT saw a correction by 3.25 ct/t to 694.25 ct/bu (EUR 204/t). The price of corn fell; June lost EUR 1.25 (EUR 217/t), On CBoT July gained 4.5 ct (598.5 ct/bu, EUR 220.50/t). Rapeseed gained EUR 10.25/t yesterday and closed at EUR 395.25/t. In China, the wheat harvest is disrupted by rainfall; less and less grain is available for consumption. The area of winter wheat in Australia will increase to 13.44 million hectares, which is 2.9% more than last year and 11.5% more than the five-year average. Last week, the number of net shorts on Matif decreased sharply; dropped from 82,000 up to 68 thousand There is growing concern about the weather in Europe. – In the northern part of France, Germany, the Czech Republic and Poland, there will be almost no rainfall ...

Source: Wrp