Wheat climbs by €4/t on European stock exchange

Wheat prices started the week on a bullish note on Monday at mid-session on Euronext, to return to their highest level in nearly two months on the March 2025 contract. The market continues to appreciate in response to the loss of competitiveness of Russian origin on the international scene, given the depletion of national stocks and the particularly restricted export quota that will be imposed between February and June. The prospect of a reduced Russian harvest next year also contributes to the renewed firmness of the market. On the other hand, the harvests in Argentina and Australia are gradually being revised upwards and are easing the signals of tension in the second part of the campaign. Corn prices were also recovering at midday, after two sessions of losses, helped by the recovery in Chicago. The US market had been slowed down in the previous two sessions by disappointing weekly international sales, but still dense export programs and the prospect of a lower end-of-season ...