Europe: Wheat falls towards €190/t

Market & Price Trends
Published Mar 2, 2024

Tridge summary

Euronext wheat prices for May 2024 have hit new lows due to ongoing downward trends, including significant competition from Russia. FranceAgriMer has reduced its soft wheat ratings to a four-year low of 68%, a significant drop from 95% the previous year. Additionally, spring barley planting is behind schedule, with only 27% completed compared to the usual 54%. Euronext wheat for May 2024 has dropped by €2.50/t to €193.50/t, and corn for June 2024 delivery has decreased by €2.25/t to €172.50/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 started to fall again this Friday mid-session on Euronext and moved to new lows for expiry on the May 2024 contract. The causes of this downward dynamic persist in fact, with in particular Russian competition still very competitive and voluminous. The next harvest in France is, however, a source of concern. FranceAgriMer has in fact removed one point from its “good to very good” soft wheat ratings in its latest weekly report. The latter therefore stand at their lowest in four years, at 68% (95% last year). Spring barley planting is also only 27% complete, compared to a five-year average of 54%. Shortly before 1:30 p.m., Euronext wheat maturing in ...
Source: TerreNet
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