Tridge summary
The article provides an overview of the European and global agricultural market, focusing on the harvest results and supply and demand dynamics of various grains and oilseeds. It highlights the challenges faced by the market, such as poor crop conditions in western Europe, competitive Black Sea supplies, and the impact of the USDA's World Agricultural Supply and Demand Estimates (WASDE) on prices. Additionally, it discusses the effects of geopolitical tensions and economic concerns in China on the oil markets. The article also mentions specific issues like the quality of wheat harvest in France, the impact of rainfall in the Canadian Prairies on rapeseed production, and the recent changes in Russia's export duties on rapeseed.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
European harvest results remain in focus, though Black Sea supplies will likely limit any support short-term. Longer-term, a historically tight global outlook could help underpin prices. US and EU maize crop conditions remain a watchpoint in markets. Longer-term, with a tighter wheat balance, demand for maize will be key to price direction. Barley prices will continue to follow the wider grains markets. Though in Europe, it’s thought that barley production has not been impacted to the same extent as wheat, which could alter the price relationship between the two grains. Global grain markets were overall pressured last week (Friday to Friday). Chicago wheat and Paris milling wheat futures (Dec-24) were down 2.3% and 3.4% respectively. The Dec-24 Chicago maize futures contract fell 0.6% over the same period. Despite concerns over western European production and news of a missile strike on the port of Odesa, competitive Black Sea supplies weighed on prices last week. On Wednesday ...
Source: Ahdb
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