News

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

Wheat
Canada
Sorghum
Russia
Published May 13, 2023

Tridge summary

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.

Original content

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 the old crop and, in the perspective of July - December, for the new crop. Weighing on the downward trend is common sense on the positive renewal of the "corridor" and the relative maintenance of commercial pressure from the Black Sea to limit EU exports until the new harvest. The state of crops in the EU is confirmed to be good and production estimates for 2023 are back above 130 million/t, even if the abundant rains could reduce ...
Source: Terraevita
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