Wheat is still in correction, but rapeseed prices are rebounding in France and the US

Yesterday’s trading of wheat in both Europe and overseas brought lower prices. However, rapeseed and soybeans saw some significant price recoveries yesterday. Wheat trading started the week with losses in Paris and Chicago. On Matif, the most traded March contract lost EUR 5.75 to EUR 225.25/t. At close of trading, the most traded March contract on CBoT fell 9 cents to 555.75 cents/bushel. On Monday, some of the risk premium for the situation in the Black Sea disappeared, while a slight recovery in the euro against the US dollar also contributed to losses in Paris. The EU’s crop monitoring service MARS said on Monday that warmer than average and dry weather in most of the European Union had helped farmers accelerate planting. However, conditions were unfavourable in much of southern Europe, including Spain and Romania. Additionally, there are currently no restrictions on wheat loading in Russia and Ukraine. Prices in Russia have remained unchanged over the past week, with higher ...