During the Thursday mid-session on Euronext, wheat prices saw a modest increase, influenced by market uncertainty ahead of a long weekend and upcoming USDA reports on 2024 acreages and US quarterly stocks. This period of market volatility is further impacted by the European Commission's forecast of a four-year low in the Union's wheat harvest at 120.8 Mt, supporting a firmer market stance. In contrast, corn and barley productions are anticipated to rise. Notably, Euronext wheat for May 2024 delivery experienced a €2.50/t increase to €203.25/t, while corn for June 2024 delivery went up by €1.25/t to €191.75/t.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Wheat prices regained a little firmness this Thursday mid-session on Euronext, in a market that was nevertheless still feverish before a long weekend and the USDA publications scheduled for this afternoon, concerning 2024 acreages and US quarterly stocks. However, European production prospects remain the center of attention and maintain firmness in the market. The European Commission is in fact announcing a Union harvest of only 120.8 Mt this year, the lowest harvest in four years and a decline of 4.8 Mt compared to last year. The corn harvest, on the other hand, is expected to increase by 6.7 Mt, to 69 Mt, while barley production is expected at 53.7 Mt, up 6.2 Mt over one year. Shortly before 2:00 p.m., Euronext wheat ...
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