Euronext European market

• Weather influences trading markets, with wheat being the most affected at the end of last week on both sides of the Atlantic.

Indeed, two cold snaps are expected this week in the American Great Plains, as well as across the entire Black Sea basin and, more broadly, Eastern Europe. First publication for 2025 of the report CEREOBS by FranceAgriMer increases concerns about the next harvest. The key points on February 10 are as follows:

- Soft wheat: 73% received the rating "good to excellent", compared to 86% at the end of November and 68% at the same date last year.
- Winter barley: 68% received the rating "good to excellent", compared to 83% at the end of November and 71% in the same period last year.

The euro/dollar exchange rate fell to 1,0450 on Tuesday amid a possible increase in military spending that is affecting the indebtedness of European countries.

In turn, oil remained at the support of $70/barrel in New York and returned to $71,5/barrel amid some delays on the part of OPEC + regarding its next production increase, announced for April.

This situation has particularly benefited rapeseed, which continues to rise on Euronext for both the old and new seasons. Rapeseed prices are mainly rising in line with palm oil prices in Kuala Lumpur. Rapeseed oil is thus becoming increasingly competitive in Europe.

In contrast, wheat and corn started the week with a decline. The fact that wheat has reached major resistance levels in distant maturities encourages sellers to come back. But the downward pressure is strongest in the short term. The March 2025 maturity also drops below EUR 230/t in search of export markets in third countries.

Quotations Euronext 17.02.2025/1/XNUMX (GMT+XNUMX)

Wheat (€/t)

Maize (€/t)

Rapeseed (€/t)

Article written by Gabriela Dan, Editor-in-Chief Arta Albă

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