Global: Durum wheat coverage prospects keep prices low

Published Aug 31, 2024

Tridge summary

The article provides an overview of the current situation of wheat and corn prices in Italy and the European market. It highlights that wheat prices have remained stable since July, with a predicted harvest range of 3.1 to 3.3 million/t, good grain quality in southern Italy, and adequate availability of any origin product. However, the increase in global corn supply and decreased demand due to pandemic concerns are causing concerns. The article also discusses the competitive pricing of non-EU origins and the effect of the euro/dollar exchange rate. It mentions the discounting of a year of widespread wheat availability and the potential slowdown in demand. Additionally, it notes the local and European production scenarios for corn, with price drops in Bologna and Milan, and the situation in other countries like Argentina, Australia, and Ukraine.

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

Original content

Even the prices of soft wheat have consolidated compared to a month ago. The decline of corn is worrying, given a greater supply and a declining demand Durum wheat, many operators have played it safe Italy Nothing has changed since the end of July, with the 2024 harvest indicated in a range between 3.1 and 3.3 million/t and with good grain quality in the center and south, but with patchy problems in the north. The availability of "any origin" product remains adequate and community and foreign prices remain competitive, allowing users to cover the greater deficit of the campaign without worries. Prices unchanged for national origin, with "Fino" remaining at €315-320/t arrival, the merchant voucher at a discount of €10-15/t, while merchant ships pay €30-40/t less. In the south, prices are in line with the values of the center-north. Europe Positive news from North America keeps intra-EU supply active, although trade remains limited due to the residual uncertainty of EU holders. ...

Source: Terraevita