Wheat remains stable above €200/t

Sustainability & Environmental Impact
Market & Price Trends
Published Apr 19, 2024

Tridge summary

Wheat prices on Euronext exhibited uncertainty on Thursday, reflecting a cautious market sentiment influenced by mixed climatic conditions across the Northern Hemisphere. The market's concern was heightened by dropping temperatures in Europe and a water shortage in Russia, though the apprehension was somewhat mitigated by the anticipation of rain in Russia and the Midwest. Meanwhile, corn prices were also hesitant, affected by a decrease in Argentina's production outlook and the progress of sowing in the Corn Belt. Notably, Euronext wheat for May 2024 remained unchanged at €203.25 per ton, while prices for September 2024 wheat and June 2024 corn experienced minor decreases.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat prices were still moving without a clear trend this Thursday at mid-session on Euronext, in a market that was still very cautious in the face of climatic conditions in the Northern Hemisphere. The fall in temperatures in a large part of Europe and in the east of France is raising many concerns, while in Russia it is the rise in the thermostat which risks worsening the current water deficit. However, rains forecast in part of Russia and the Midwest ease fears somewhat. Corn prices are also hesitant, despite a rapid decline in production potential observed in Argentina. However, the climatic conditions with good progress in sowing in the Corn Belt are weighing on the trend. Shortly before 2:00 ...
Source: TerreNet
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