Italy: Durum wheat, harvest forecasts rekindle the prices

Published May 10, 2024

Tridge summary

The article highlights the decrease in the productivity of Italy's 2024 campaign, with national durum wheat availability diminishing and leading to price increases. Despite the hot-humid risk in new harvest conditions, demand remains high. Europe's harvest is expected to be around 7.3-7.4 million/t, with varying yields from regions. The European market is seeing rising prices, influenced by the climate and concerns about crop states in Russia, water shortages in the US mid-west, and soil hygrometric excesses in Europe. These factors are causing uncertainty and volatility in global markets, with FOB prices also increasing in the Black Sea. Italian corn markets are experiencing similar uncertainty.

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

Original content

It is now certain that the 2024 campaign, at a national level, will be less productive than last year. Soft wheat, corn and fodder crops are also on the rise. Durum wheat, the availability of national products is decreasing. Italy. The availability of national durum wheat is decreasing and price increases of around €5/t have been recorded in central-northern markets; stable Foggia, however aligned to the central south origin. The conditions of the new harvest remain better from south to north, awaiting the quality check in the coming weeks (hot-humid risk). Demand is present to negotiate what is available, with the certainty now of an Italian harvest that is quantitatively lower than expected and greater dependence on (well-maintained) foreign markets. Product arrivals at ports reduce possible tensions in the short term. The central “Fino” delivered north rises to €350/t, with the equivalent delivered south around €360/t; merchant ships at a discount of €25-45/t in the south and ...

Source: Terraevita