Wheat prices on Euronext are on the rise due to concerns over growing conditions in Western Europe. FranceAgriMer's latest report shows a significant drop in 'good to very good' soft wheat ratings compared to last year, and a slow progress in the sowing of spring varieties. Meanwhile, corn prices are fluctuating due to changing weather conditions in Argentina, leading to a reduction in the Argentine harvest estimate.
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.
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Wheat prices started to rise again this Friday mid-session on Euronext in an attempt to return to €200/t on the close contract. In particular, growing conditions in Western Europe are attracting increasing market attention. In its latest weekly bulletin, FranceAgriMer also maintained its “good to very good” soft wheat ratings at only 66%, compared to 94% last year at the same period. Winter barleys, for their part, are only judged to be in “good to very good” conditions at 68% (93% in 2023), while sowing of spring varieties was only 48% complete in March 18, compared to 89% on average five years. Corn prices, on the other hand, are moving unevenly, in a market that is nevertheless concerned about changing climatic conditions in Argentina. The Buenos Aires Stock Exchange has also reduced its estimate of the Argentine harvest by 2.5 Mt, to 54 Mt (34 Mt last ...
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