• Nervousness remains for Euronext wheat and corn futures amid growing uncertainty over the situation in the Black Sea on the one-year anniversary of the start of the conflict.
As in the spring of 2022, in such a geopolitical context, wheat captures the attention of most traders. In Europe, however, the problem is mainly that of corn, since imports from Ukraine are essential for balancing the EU's balance sheet. Hence the minimal difference now observed between wheat and corn in quotations Euronext.
Rapeseed prices fell yesterday following the announcement made by the French agency Rough according to which a further increase in cultivated areas is predicted in 2023. The area in 2023 would reach 1,338 million hectares, 53.000 ha more than originally expected in December. This represents an annual increase of +9% and an area 10,9% above the five-year average.
The French agency's revisions are more modest for common wheat, which rose 14.000ha from December to 4,76 million hectares, and winter barley, up 40.000ha to 1,34 million hectares.
Thus, the French wheat area in 2023 would increase by 2% on one year and by 0,4% on the five-year average. That of winter barley +3,7% over one year and +7% over the five-year average.
Euronext quotes from 14.02.2023/XNUMX/XNUMX
Wheat (€/t)
| March 2023 | 299,50 | + 0,75 |
| May 2023 | 296,75 | + 0,25 |
| September 2023 | 286,75 | + 1,25 |
| December 2023 | 287,75 | + 2,25 |
Corn (€/t)
| March 2023 | 298,00 | + 1,00 |
| June 2023 | 295,25 | + 1,00 |
| August 2023 | 297,00 | + 0,50 |
| November 2023 | 279,00 | + 1,50 |
| March 2024 | 280,25 | + 1,50 |
Rapeseed (€/t)
| May 2023 | 553,50 | - 1,75 |
| August 2023 | 551,25 | - 1,50 |
| November 2023 | 551,75 | - 1,50 |
| February 2024 | 551,25 | - 1,00 |
Article written by Gabriela Dan, Editor of Arta Albă
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