• Wheat quotes on Euronext give up last week's gains in an attempt to align with increasingly aggressive Black Sea prices.
At present, the main concern for traders remains the dominance of wheat and corn in the Black Sea. The drop in the euro/dollar exchange rate, which yesterday returned to a two-month low, makes European grains more competitive. However, this support is insufficient.
Then, the situation in South America is also taken into account. Planting of the second corn crop in Brazil is progressing well and fast, which reassures operators, while the restoration of beneficial rainfall in Argentina eases concerns a bit.
Corn prices held up well in Chicago, supported by last week's strong export sales to the United States and yesterday's announcement of another exceptional sale of 155.500 tonnes to Mexico. In turn, wheat follows the downward pressure seen in both Western Europe and the Black Sea. And soybeans managed a slight rebound in quotes, but they also remain in a downtrend.
Overall, the US market remains fairly calm, pending the report CONAB from Wednesday's Brazil and especially the monthly report WAS THE al USDA from Thursday, February 8.
Bursa Euronext 05.02.2024/1/XNUMX (GMT+XNUMX)
Wheat (€/t)
| March 2024 | 210,00 | - 3,25 |
| May 2024 | 211,25 | - 2,25 |
| September 2024 | 219,00 | - 2,00 |
| December 2024 | 223,75 | - 2,00 |
| March 2025 | 227,75 | - 1,00 |
Maize (€/t)
| March 2024 | 181,00 | - 0,50 |
| June 2024 | 184,25 | - 0,50 |
| August 2024 | 189,50 | - 0,25 |
| November 2024 | 191,00 | - 1,00 |
| March 2025 | 195,75 | + 0,00 |
Rapeseed (€/t)
| May 2024 | 414,25 | - 1,75 |
| August 2024 | 413,25 | - 1,75 |
| November 2024 | 418,25 | - 1,25 |
| February 2025 | 422,50 | - 0,75 |
| May 2025 | 420,75 | + 0,00 |
Article written by Gabriela Dan, Editor of Arta Albă
Read on White Art and: Trends in the flour market - the determining aspects that influence it
