• Cereal prices on the Paris stock exchange were supported on 27.03.2024, by the firmness of US prices, in the context of forecasts regarding the rotation of wheat and corn crops, as well as by the European Commission's estimate of soft wheat production for the new marketing year.
commission soft wheat production is expected to reach 120,8 million tonnes, down about 4% from last year. This decrease is explained by the reductions in cultivated area also reported in Europe due to the sowing conditions last autumn. High end-of-season stocks, which the Commission says are close to 20 million tonnes, will offset some of this drop in production.
Consequently, prices rose on Euronext for both the old and new crops, although they fell short of last week's recent highs, especially for the May 2024 delivery date. The price of corn also rose, taking the example of soft wheat.
Unlike cereals, the rapeseed market did not enjoy the same upward momentum, ending the week on Euronext lower and falling below EUR 440/t for May 2024 maturity. Expected fall in potential rapeseed production for the 2024/2025 marketing year in Europe was confirmed by the estimate of the European Commission. The volume now expected is 19,5 Mt, just 1,5% lower than last year.
During the Easter weekend, the Euronext market was closed on Friday 29.03 and Monday 01.04.
Euronext quotes on 28.03.2024 (GMT+1)
Wheat (€/t)
| May 2024 | 203,50 | + 2,75 |
| September 2024 | 218,00 | + 3,00 |
| December 2024 | 224,00 | + 2,75 |
| March 2025 | 228,25 | + 2,75 |
| May 2025 | 230,00 | + 2,25 |
Maize (€/t)
| June 2024 | 193,25 | + 2,75 |
| August 2024 | 196,00 | + 2,75 |
| November 2024 | 198,00 | + 2,75 |
| March 2025 | 202,75 | + 2,75 |
| June 2025 | 204,00 | + 2,50 |
Rapeseed (€/t)
| May 2024 | 438,00 | - 3,50 |
| August 2024 | 445,50 | - 1,00 |
| November 2024 | 450,75 | - 0,75 |
| February 2025 | 454,25 | - 0,50 |
| May 2025 | 451,25 | - 0,25 |
Article written by Gabriela Dan, Editor of Arta Albă
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