• Cereals on the European market registered price increases at the close of the Euronext stock exchange on 26.01.2023.
European financial markets are recovering, supported by stronger-than-expected US growth figures for the fourth quarter of 2022 and, to a lesser extent, a stabilization of the euro against the dollar. This relative optimism, however, does not remove the risk related to the conflict in Ukraine, where new Russian actions have hit Kyiv and the Odesa region.
After a sharp drop earlier this week, prices on Euronext they recovered to return to last week's levels.
Western European exporters remain cautious, both regarding the evolution of prices in Russia, as well as in Romania and Bulgaria. The European Commission, until 26.01.2023, had not yet reviewed its export potential for the current campaign.
It is still betting on a volume of 34 million tons for soft wheat. Maize prices are also adjusting upwards, influenced by the relative recovery of wheat prices on the one hand and uncertainties regarding the potential of corn production in Ukraine next season.
The Grain Association of Ukraine is forecasting a severe drop in production due to the situation in the country, predicting an optimal scenario of 18 million tons for the next corn season. The strongest return of prices, after the decline of the last few days, was recorded yesterday in rapeseed.
Euronext quotes 27.01.2023 – 11:29 (GMT+1)
Wheat (€/t)
| March 2023 | 288.50 | - 0.25 |
| May 2023 | 284.25 | - 0.25 |
| September 2023 | 271.50 | - 0.50 |
| December 2023 | 272.00 | - 0.75 |
Maize (€/t)
| March 2023 | 279.75 | + 1.25 |
| June 2023 | 280.00 | + 1.25 |
| August 2023 | 282.00 | + 0.50 |
| November 2023 | 266.75 | + 4.00 |
| March 2024 | 266.75 | + 3.25 |
Rapeseed (€/t)
| February 2023 | 548.50 | + 2.50 |
| May 2023 | 546.00 | + 1.50 |
| August 2023 | 545.00 | + 0.25 |
| November 2023 | 546.50 | + 2.75 |
| February 2024 | 545.00 | + 2.00 |
Article written by Gabriela Dan, Editor of Arta Albă
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