What's new in the global futures market for wheat, corn and canola?

Published 2023년 8월 8일

Tridge summary

The futures market for wheat for September 2023 delivery saw an increase in quotations from 232.00 euros/ton to 247.75 euros/ton. The average futures price for September is EUR 240.50/ton. Corn prices on the European futures market for delivery in August 2023 also rose, starting at €226.25/ton and reaching EUR 248.00/ton at the end of the month. The largest exporter of soft wheat is France, followed by Romania, Germany, and Poland. Soybean imports into the EU decreased by 10% compared to the previous year, while rapeseed imports increased by 33%. The harvest of wheat in Germany for 2023/2024 is predicted to be 7% less than the previous year, while the harvest of soft wheat in France is expected to increase. India has imposed a ban on the export of white rice, which could have an impact on prices. Russia saw a significant increase in grain exports, with the largest customers being Saudi Arabia, Turkey, Egypt, and Israel.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On the futures market for wheat for September 2023 delivery, quotations increased by 15.75 euros/ton - from 232.00 euros/ton at the beginning of the month to 247.75 euros/ton at the end. Wheat 2023: Higher yields per acre, but less total production The average futures price for the month of September is EUR 240.50/ton, the Ministry of Agriculture stated in its monthly overview of the international grain and oilseed markets. On the European futures market for delivery in August 2023, corn started at €226.25/ton. At the end of the considered period, it reached EUR 248.00/ton, and the quotations increased by 21.75 points. The average futures price for the month of August is EUR 238.62/ton. For rapeseed, the average futures price for November 2023 is EUR 466.75/ton, for February 2024 – EUR 472.75/ton, and for May 2024 – EUR 473.75/ton. In 2022/23, the export of common wheat from the EU reached 31.1 million tons (+12% compared to 2021/22). Exports of durum wheat were 742,000 tonnes ...

Source: Agri