Wheat continues its recovery above €200/t in the EU

Regulation & Compliances
Market & Price Trends
Published Feb 24, 2024

Tridge summary

Wheat prices on Euronext have continued to recover, driven by renewed international demand, technical considerations, and potential new American sanctions against Russia. Despite FranceAgriMer raising its soft wheat ratings, Black Sea competition remains strong, limiting recovery potential. Euronext wheat for May 2024 increased by €1.75/t, to €202/t, and the March 2024 contract increased by €1.25/t, to €208.75/t. Euronext corn for June 2024 delivery appreciated by €0.25/t, to €174.50/t, and the March 2024 term increased by €0.50/t, to €174.50/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 continued their recovery movement this Friday at mid-session on Euronext. Signs of renewed international demand and technical considerations continue to fuel the movement, while potential new American sanctions against Russia form a small risk premium in the market. FranceAgriMer also only raised its “good to very good” soft wheat ratings by one point in its latest weekly bulletin, a drop of 26 points compared to last year. However, Black Sea competition remains very competitive on the international scene and further limits the potential for recovery. Shortly before 2:00 p.m., Euronext wheat maturing in May 2024 ...
Source: TerreNet
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