Euronext wheat rises to €230/t

Published Oct 15, 2024

Tridge summary

Wheat prices on Euronext saw a slight increase this Monday due to concerns over Black Sea supply, driven by sowing delays in Russia and potential export restrictions. However, rain showers in France could delay sowing and harvesting, causing further worries. In contrast, corn prices experienced a decline due to a US market trend and revised production potential from the USDA. This, along with reduced global wheat consumption, led to an increase in wheat prices and a decrease in corn prices for future deliveries on Euronext.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat prices started the week on a slightly positive note this Monday at mid-session on Euronext, in a market still concerned about the Black Sea supply. Sowing delays in Russia and discussions in the country concerning potential export restrictions are causing renewed tension over the current and next season. In France, showers are also forecast again this week and risk delaying the first sowing work a little more. French corn harvests are also likely to widen their already critical delay and lose a little more potential. However, corn prices suffered some losses this Monday, in the face of a US market trending in the red. The latest USDA report has indeed raised the US production potential this year, to a volume close to the record set last year. Global end-of-season wheat stocks have also been raised, taking into account ...
Source: TerreNet
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