Global: Serious discounts on Tuesday, rapeseed peaks by almost 20 EUR per ton
Wheat
Poland
Published Jun 1, 2023
Original content
Tuesday brought bad news for grain and rapeseed producers. Because we had to deal with declines, and really serious ones. Rapeseed has not been so cheap since the beginning of November 2020. But let's start with the wheat; its price fell yesterday in Paris by EUR 5.5/t to EUR 220.25/t, while in Chicago the price fell by 25 ct/bu to 591 ct/bu (EUR 202.31/t), although it should be taken into account the fact that Monday was a day off there, so the losses somehow added up. Several factors contributed to the development. In the USA, rainfall is expected again, which will improve the earnings prospects. International demand for wheat is currently limited as many important importing countries use their own harvest first. And the supply pressure from Russia remains enormous. In May, wheat exports are expected to reach 4.9 million tons, 3.8 times more than in the same month last year, Kaack reports. Noteworthy is the still strong export of EU wheat to the US. 270,000 - 300,000 could have ...
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