European wheat falls back below €230/t

Soft wheat prices were trading negatively this Friday at mid-session on Euronext, for their post-Christmas recovery session. However, trading volumes remained particularly limited during this holiday period, making current variations in European quotations irrelevant. The market was nevertheless lively at the beginning of the week by the Algerian call for tenders for soft wheat for loading in February-March, which reportedly resulted in a particularly large purchase of over a million tonnes. The global market also remains torn between signals of supply tensions in Russia and the pressure of new harvests in the Southern Hemisphere. Corn, for its part, was stabilised at mid-session, in an equally reduced trading volume. However, the lack of precipitation in part of Argentina and the absence of significant rains announced in the two-week forecasts are raising ...