Durum wheat, another week of weakness in global trade

Durum Wheat

France

Canola Seed & Rapeseed

Russia

Published Feb 17, 2024

Tridge summary

The global trade market is experiencing a slowdown with falling prices for durum wheat and corn, while soybeans remain stable. The European markets are under pressure due to competition from the Black Sea and bearish repercussions from overseas stock exchanges. In Italy, the price gap between superior and strong qualities compared to bread-making products and lower product classes continues to widen. Meanwhile, Russia's potential increase in export volume is causing depressive effects on the stock markets. Corn prices in Italy are falling due to a wide range of products with EU and foreign origins, and low demand fueled by epidemic rumors and future market signs indicating further price declines.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Prices continue to fall especially on national and European markets. Corn is also down even further, soybeans are stable. Durum wheat, prices lose ground in Italy. After the last week, there was a second week of decline in prices for durum wheat. The truce at the end of January is therefore over, with the acceleration of the return of the price lists to the (historical) levels expected close to the leap in the campaign. The effects of the global market amplify the slowdown in trade, with buyers operating in the short term in a context of falling prices. At the moment the new crop is in good vegetative condition. In the main markets, the hard “Fino” is worth €375/t arriving North for the Central origin returning North and €380-385/t returning South; merchant ships at a discount of €10-30/t in the South and €27-60/t in the Centre-North. Europe Atypical situation with low availability but prices significantly decreasing from the highs of 2023. The availability of the old "any-origin" ...

Source: Terraevita