Euronext wheat returns to flirt with €240/t

Wheat prices were slightly on the rise again on Tuesday at mid-session on Euronext, driven by a further weakening of the eurodollar parity, which is favourable to the competitiveness of EU origins on the international scene. The latest Saudi call for tenders, however, once again confirmed the lack of competitiveness of Western European wheat compared to origins from the Black Sea region and the Southern Hemisphere. The climate in the Northern Hemisphere, however, remains observed with concern and adds tension to the market. The cold snap currently affecting Russia and Ukraine, as well as the American Midwest, is indeed a direct threat to winter crops given the insufficient and heterogeneous snow cover. Corn prices were moving in a scattered order according to the maturities at mid-session. The beneficial rains announced in Argentina tend to reassure after the ...