Euronext wheat approaches €215/t in EU

Wheat prices were moving in a neutral to upward trend this Wednesday at mid-session on Euronext, while corn was making slightly more significant gains. European prices are indeed mechanically supported by a fall in the eurodollar parity to its lowest level in four months, under the effect of the election of Donald Trump to the presidency of the United States, which risks reviving inflation across the Atlantic and thus compromising the Fed's monetary easing policy. Wheat prices, however, remain under pressure from competition from Black Sea sources and the arrival of Southern Hemisphere harvests on the international scene. More favorable weather conditions for the progress of the French corn harvests and encouraging returns to yields are also pulling corn prices down. Wheat and corn prices in Chicago are penalized by the jump in the dollar index and the risk of a rapid ...