Global: Durum wheat returns to decline, stability for soft wheat

Durum Wheat
Published Feb 10, 2024

Tridge summary

The global agricultural market is experiencing a decline in prices due to an oversupply of durum and soft wheat, with the former's prices falling due to adequate local availability not meeting demand. The market is also observing the commercial operations of Turkey and Canada. Meanwhile, the corn market in Italy is bearish due to factors such as wide product availability, epidemic risk, competition from cereals to straw, unusual climate trends affecting livestock diets, and market burdens from previous hedges made by operators. Despite regular global purchase auctions, low prices persist. However, there is optimism in India with an increase in sown areas and prospects of a good harvest.
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

Corn, on the other hand, confirms the bearish trend that has continued for several weeks now. Soya still weak on a global level Durum wheat, the decline resumes Italy After a very brief respite the prices of durum wheat begin to fall again from North to South, following a market trend which, in the face of adequate local availability of "any-origin" products ” (already stored for months), does not meet the same demand, with operators waiting for new events before taking further positions. Pay attention to the (drought) climate evolution in the South, to the next vegetative progress and to agronomic practices. The hard “Fino” repositions itself at €375-380/t arrival for the Central origin returned North and €385/t returned South; merchant ships at a discount of €10-30/t in the South and €25-50/t in the Centre-North. Europe Clear distinction between the current market and the new harvest. At the moment there is limited supply of 2023 goods and interest in taking positions on the new ...
Source: Terraevita
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