World: Several factors generate tension in cereals market
Wheat
Durum Wheat
Maize (Corn)
Published Apr 30, 2022
Tridge summary
It is not just the war in Ukraine that continues to generate tension; now the climatic situation and the euro / dollar exchange rate also come into play Soft wheat, prices still at the highest levels Italy A week that after the reopening after the holidays begins to outline the market scenario for the last quarter of the campaign, with an adequate supply of wheat " superior "and local" strength "and growing dependence on European and foreign origins for" mixed "and lower class grains.
Original content
The milling demand is present, but it operates discontinuous purchases as a reflection of a market that remains (geopolitically) still uncertain. The offer is there, but with the intention of placing the remaining stocks gradually, in the presence of a market it gives signs of recovery. The agro-climatic situation in the North improves, to the benefit of the new crop. With EU and foreign replacements required, the Bologna type is worth around 420-422 starting, the bread-making products around € 400 / t and the "mixed" ones over € 390 / t; Strong communities + 5 € / t and North American foreign + 20 € / t due to logistical-currency effect. Europe The "perfect storm" combines the lack of progress in the Russian-Ukrainian conflict with an evolution of the euro / dollar exchange rate favorable to EU exports and a still unstable global climate evolution, which brings demand both on the ready and, in perspective , in central / eastern Europe. The week recorded a recovery in markets and ...
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