Cereal prices in Spain fall in June due to the forecast of a good harvest

Published 2024년 6월 10일

Tridge summary

Spanish cereal markets have seen a decrease in prices this month, driven by the expectation of a good harvest and positive production reports from the United States, offsetting concerns about Russian wheat conditions. The prices of common wheat, corn, durum wheat, and oats have all fallen, while barley and malt barley prices have dropped by over 5% and 12% respectively compared to January 2024. This trend puts pressure on the new harvest as Spain, an deficit country, ready to start its own mowing season.

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

Original content

Cereal prices have fallen so far this month in Spanish markets, where the "certainty of a good harvest" is gaining ground among operators, as sources from the Accoe wholesale trade association informed Efeagro this Monday. In the first closed week of this month (until last Friday) the prices of cereals and their decreases compared to the previous one have been as follows: common wheat, 236.63 euros/ton (+2.42%); corn, 229.76 euros/ton (-1.43%); durum wheat, 297.75 euros/ton (-0.19%) and oats, 262.40 euros/ton (+2.81%). Barley has fallen 3.01%, to 218.09 euros/ton; while malt barley has fallen by 1.76%, to 223.75 euros/ton. The cereal markets are impacted by good news about cereal production, from important countries for Spanish supply such as the United States, which "removes the specter of a decrease in availability." This relief contrasts with concerns in previous weeks about Russian wheat conditions. In Spain, a deficit country, the "pressure" of the new ...

Source: PEefeagro