Italy: Slow trading for durum wheat, bearish pressure on corn

Durum Wheat

Soybean

Published May 20, 2023

Tridge summary

Eyes also focused on the flood in Romagna, but while waiting to understand the evolution, the markets are not registering jolts. Barley holding, sorghum unchanged Soft wheat, the production scenario worsens in Italy Italy The production scenario in the North has worsened, with areas heavily damaged by recent floods and lodgings which introduce both fruit set problems and fungal diseases.

Original content

Waiting to understand the evolution of the markets, the trend continues on the stock exchanges which sees weakness for the grains of strength and stability for the lower classes (fewer offers). Exchanges that remain in the short term to cover the consumption of cash. “Bologna-type” strong grains made North are worth below €300/t, with bread-making grains at €290/t and “mixed” grains at €260-265/t (specific basis); Community bread-making unchanged such as EU and foreign strength grains. Europe The confirmation of the "corridor" and an overall favorable climatic trend dictated the trend of the markets in the second part of the week after a (logical) wait until the confirmation of the agreement for the Black Sea. also to the new harvest, given a rapidly falling price level (linked to Euronext Paris) towards "pre-Covid" prices. Russian competition on North African auctions remains a further bearish factor, given an estimate of EU 2023 production of over 130 million/t and the need to ...

Source: Terraevita