Italy: Prices for cereals, fodder, and oil crops slow down the race
Italy
Published Jun 4, 2022
Tridge summary
The market lives day to day with the unknown of how the new campaign will be (from July onwards) on the basis of global news and an agronomic situation in the field that is proceeding without problems. The price level is high and the exchanges are limited to ready-to-go, with the usual hedges on July-December postponed pending the consolidation of a more certain commercial framework in the supplier countries: the Black Sea and Central Europe in primis. There is demand, but it buys gradually over the short term, reducing the level of coverage; the offer holds positions pending the first responses from the fields and the qualitative-quantitative scenario that will be outlined. The favorable climate and the absence of diseases so far support the estimates of a substantially good 2022 harvest. The "Bologna type" is worth 435 € / t starting, bread-making around 405-410 € / t, the "mixed" on 405 € / t; Tonic EU and foreign countries with US "springs" in decline.
Original content
The arrival of rains in Europe and the American continent caused a sigh of relief. Eyes on partial executions from the Black Sea Soft wheat, Italy is sailing on sight Italy The market lives for the day with the unknown of how the new campaign will be (from July onwards) based on global news and an agronomic situation in field that proceeds smoothly. The price level is high and the exchanges are limited to ready-to-go, with the usual hedges on July-December postponed pending the consolidation of a more certain commercial framework in the supplier countries: Black Sea and Central Europe in primis. There is demand, but it buys gradually over the short term, reducing the level of coverage; the offer holds positions pending the first responses from the fields and the qualitative-quantitative scenario that will be outlined. The climate so far favorable and the absence of diseases support the estimates of a substantially good 2022 harvest. The "Bologna type" is worth 435 € / t starting, ...
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