News

Wheat is falling towards €190/t in Europe

Wheat
Published Mar 5, 2024

Tridge summary

Wheat prices on Euronext have dropped due to increased competition from Russia, whose export prices have been decreasing since the start of the year. In response, the OAIC has tendered for soft wheat to be loaded in June. Despite a technical rebound in Chicago, corn prices remain stable to downward due to improved growing conditions in Argentina and Brazil. However, concerns are rising over spring sowing in France and Germany. Wheat for May 2024 fell by €1.25/t to €190.25/t, and the September 2024 contract fell by €0.50/t to €199.75/t. Corn for June 2024 delivery fell by €0.25/t to €171/t, and the August 2024 term fell by €1/t to €174.75/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 began the week with a new decline this Monday at mid-session on Euronext. The pressure from Russian competition continues to increase in intensity with export prices in free fall since the start of the year. This dropout, however, motivates a return from the OAIC at the start of the week, with a call for tenders for soft wheat to be loaded in June. Corn prices are moving on a stable to downward trend, despite a technical rebound recorded in Chicago. The improvement in growing conditions in Argentina and Brazil remain notable downward factors. Spring sowing in France and Germany, however, is currently a source of concern for agricultural markets. Around 1:00 p.m., wheat on Euronext ...
Source: TerreNet
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