Global: Downward trend on durum wheat and weak demand for corn

Published 2023년 5월 12일

Tridge summary

The article provides an overview of the current situation and future prospects of the European and global wheat market. It highlights the downward trend in prices for staple grains, influenced by the need for balance in the EU market, uncertainties from climate change, and the potential maintenance of the Black Sea "corridor." Despite challenges such as abundant rains and fungal diseases, EU crop conditions are generally good, with production estimates above 130 million/t. However, concerns about grain humidity and slow sowing in North America may affect future supply-demand dynamics. The market is closely monitoring the situation in Spain, where drought could impact yields, and maintaining cautious pricing for the new crop. The market remains active with exchanges, including auctions from North Africa, and is influenced by the expectation of US-Canada exports and the arrival of Mexican production.

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

Original content

The good prospects for the 2023 campaign and the rumors about maintaining the Black Sea "corridor" are bearish factors. Proteins stable Soft wheat, the downward trend does not stop Italy Despite the uncertainties due to the sudden climate change in the north, with a possible greater incidence of fungal diseases for the new crop, the downward trend for staple grains continues on the squares, they yield €8/t on Bologna and €10/t on Milan. For superior bread-making and bread-making still some adjustments, but the feeling is of a balance (almost) achieved also due to the slowdown in the EU offer. “Weekly” exchanges to cover stock needs, with decreasing but adequate coverage of the mills. “Bologna-type” hard grains made North are worth around €300-310/t, with superior bread-making grains below €300/t and “mixed” grains at €260-265/t (specific basis); Community breadmaking unchanged, while EU and foreign staple grains yield a further €10-13/t. Europe Generalized drop in prices both for ...

Source: Terraevita