Global weekly wheat market analysis as of December 20, 2024

Published 2024년 12월 20일

Tridge summary

The article provides an overview of the current weather conditions and their impact on wheat farming in the US, Europe, and the Black Sea region. It discusses the effects of snow, drier conditions, and rain on wheat-growing areas and highlights the need for good winter rainfall in the Black Sea region to help wheat recover in early spring. The article also covers the global market trends for wheat, including stable prices for MATIF wheat despite increased demand, reduced forecasts for French extra-EU soft wheat exports, and an increase in feed wheat demand at the ports of Odessa and Danube. Additionally, it touches on the wheat market outlook, which remains supported by high supply from Russia and good harvests in Argentina and Australia, despite a slowdown in Russian wheat exports and expected increases in EU production.

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

Original content

Weather The northern plains of the US will receive snow, but wheat growing areas in the west will be drier, a weather pattern that continues from a wetter November. For Europe, more rain is expected to spread across the continent by early next week, keeping soils too wet in the northwest but improving soil moisture for most other areas. In the Black Sea, winter wheat has entered dormancy in the west but is in poor condition in the east, especially in southwest Russia. The region needs good winter rainfall to help wheat recover in early spring. Global market highlights MATIF wheat was unchanged for the week despite rising international demand (with massive purchases from Saudi Arabia and Tunisia) as it remains under pressure from continued competition from cheaper offers from Russia (where the 2025 harvest is forecast to be reduced) and Argentina. For France, FranceAgriMer has cut its forecast for French extra-EU soft wheat exports for the 2024/25 season to a 25-year low, ...

Source: Agroportal