News

Global: Wheat loses €3/t and falls below €200/t

Wheat
Russia
Published Feb 29, 2024

Tridge summary

Wheat prices once again suffered significant losses this Wednesday at mid-session on Euronext. The rebound of the day before is in fact short-lived on the European market given the rapid revival of competitiveness of Russian origin and a recovery in international demand which is still too timid to motivate an upward turnaround. Growing conditions also remain favorable in the Black Sea and the United States. Corn prices are also deteriorating again under pressure from the origins of imports and climatic conditions. Euronext wheat maturing in May 2024 fell by €3/t, to €197.75/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 once again suffered significant losses this Wednesday at mid-session on Euronext. The rebound of the day before is in fact short-lived on the European market given the rapid revival of competitiveness of Russian origin and a recovery in international demand which is still too timid to motivate an upward turnaround. Growing conditions also remain favorable in the Black Sea and the United States, despite a cold snap in the Midwest under surveillance this Wednesday. Corn prices are also deteriorating again under pressure from the origins of imports and climatic conditions in South America which are beneficial to the crops. Around 1:30 p.m., Euronext ...
Source: TerreNet
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