• After a sharp decline, the price of wheat on Euronext rose on Friday, but failed to offset the pronounced decline of the previous day. The start of the week brings prices down again.
The latest figures published by FranceAgriMer for the 2024/2025 campaign confirm the completion of the soft wheat harvest, with 98% of the area harvested. The yield situation shows no positive change compared to expectations.
As for corn, FranceAgriMer reported a slight decline in the crop situation in France. Down one point from the previous week, 76% of the cultivated area was considered to be in condition "good to excellent". Despite this, corn hit a new low on Euronext on Friday. The November 2024 delivery tested the EUR195/t threshold during the day, ending the week at its lowest level since April 4.
The decline in crop volume, which is affecting France this season, is also seen in Germany, where the Association of German Cooperatives now reports a production of 18,76 Mt, thus correcting downwards its estimates from last July. Also, a smaller German rape harvest of around 3,64 million tonnes is expected.
Despite these figures, rapeseed prices on Euronext have fallen sharply, falling below EUR 460/tonne for the November 2024 contract. The recovery of the euro against the dollar and the decline in oil prices are two factors driving the price adjustment.
Fluctuations in the American market as well
At the end of the week on the Chicago Stock Exchange, corn and soybeans closed trading at new minimum maturities. In the new crop, December 2024 delivery returned to $3,90/bu during the session and closed the day below $3,95/bu.
The same was true for soybeans, which traded back to $9,55/bu during the day, and the November 2024 contract ended the week at a new contract low. Weather forecasts call for fair conditions with a return to dry weather.
Euronext quotes 19.08.2024 GMT(+1)
Wheat (€/t)
| September 2024 | 202.50 | - 2.75 |
| December 2024 | 216.00 | - 2.75 |
| March 2025 | 222.50 | - 2.25 |
| May 2025 | 226.25 | - 2.25 |
| September 2025 | 222.00 | - 2.00 |
Maize (€/t)
| November 2024 | 194.75 | - 0.75 |
| March 2025 | 203.00 | - 0.50 |
| June 2025 | 206.50 | - 0.75 |
| August 2025 | 209.25 | - 0.75 |
| November 2025 | 204.50 | - 0.75 |
Rapeseed (€/t)
| November 2024 | 453.25 | - 0.25 |
| February 2025 | 455.00 | + 0.25 |
| May 2025 | 455.75 | - 0.25 |
| August 2025 | 438.50 | + 1.75 |
| November 2025 | 442.50 | + 0.00 |
Article written by Gabriela Dan, Editor-in-Chief Arta Albă
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