• At the end of last week, the technical rebound continued on the Euronext wheat and corn contracts, allowing for a very slight increase in prices. Rapeseed also saw some growth, approaching February highs of €428/t for May 2024 delivery.
Friday USDA published the report WAS THE for March showing a larger-than-expected downward revision of 2023-24 global grain stocks.
While competition continues to wreak havoc on the international scene, with Russian-origin grains still ultra-dominant, the wheat market is still managing to recover. This was essentially a technical comeback both on Euronext, as well as in Chicago.
In France, the conditions of culture are in decline. program CéréObs of FranceAgriMer rated 68% of soft wheat as "good to excellent", unchanged from the previous week, but at the lowest level in the last 4 years.
After the difficulties encountered with the autumn sowings, the weather is still too wet and is now preventing the spring barley sowings from going well in France. Seeding advanced just one point from the previous week, with 28% complete, compared to 96% last year and 71% for the five-year average.
Euronext quotes 11.03.2024 (GMT+1)
Wheat (€/t)
| May 2024 | 196,75 | + 3,25 |
| September 2024 | 206,75 | + 3,50 |
| December 2024 | 213,25 | + 3,25 |
| March 2025 | 217,50 | + 2,75 |
| May 2025 | 220,50 | + 3,50 |
Maize (€/t)
| June 2024 | 177,75 | + 3,25 |
| August 2024 | 180,75 | + 3,75 |
| November 2024 | 184,50 | + 3,00 |
| March 2025 | 190,25 | + 4,50 |
| June 2025 | 193,00 | + 3,25 |
Rapeseed (€/t)
| May 2024 | 430,75 | + 7,50 |
| August 2024 | 430,00 | + 6,75 |
| November 2024 | 434,25 | + 6,00 |
| February 2025 | 438,00 | + 5,75 |
| May 2025 | 433,75 | + 5,75 |
Article written by Gabriela Dan, Editor of Arta Albă
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