Spain: The Red Sea crisis does not affect cereal prices due to good supply

The Red Sea crisis and its logistical disruptions in trade are not affecting grain prices, which continue to fall both in Spanish markets and in the main reference markets due to abundant supply. The tension in the Red Sea is not reflected in the cereal trade, where "supply weighs more than cyclical issues", as sources from the Accoe wholesale traders association informed Efeagro this Monday. Both in the European stock market operator Euronext in Paris and in the Stock Exchange In Chicago (USA), futures contracts register decreases or stability. Wheat only registers increases in Paris (+0.25%) for futures contracts as of December 2024, while in corn the decreases reach up to 3%. ; in Chicago the decreases are more pronounced, up to 6.75% in the case of wheat and 9% in the case of corn. As for Spain, the prices recorded in the last week closed in the wholesale markets (until Friday) maintain the downward trend. The tensions in the Red Sea do not affect the freight of the ships that ...