Wheat prices saw a downturn in the mid-session on Euronext this Tuesday, influenced by a mix of geopolitical tensions and agricultural concerns. The ongoing conflict between Russia and Ukraine is impacting grain exports and port operations, while France faces challenges with its wheat crop due to adverse weather conditions affecting winter cereal growth and sowing schedules. Conversely, the US reports an improvement in the condition of winter wheat in Kansas and Oklahoma, as per the USDA. The article also highlights specific price movements for wheat and corn futures on Euronext, reflecting the complex interplay of factors affecting the global wheat market.
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 returned to the red this Tuesday at mid-session on Euronext. The market is indeed tending to calm down despite the still confusing situation in Russia regarding tensions between the Kremlin and one of the country's main grain exporters. Russian strikes in Ukraine would also once again hamper port operations, according to local authorities. Growing conditions in France also remain worrying, with winter cereal conditions particularly degraded and sowing significantly delayed by incessant downpours. In the US, on the other hand, the USDA still estimates the rate of "good to excellent" winter wheat in Kansas at 53% (19% last year), and at 70% in Oklahoma (34% last year). a year old). Shortly before 2:00 ...
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