COTidienne | Cereals – A renewed competitiveness supports wheat and corn prices on Euronext

THE prix wheat showed a significant increase, between December 20 and 23, on Euronext and, by ricochet, on the walk French physical economy, due to the weakness of the euro against the dollar and less dynamic Russian exports. Corn prices on French markets are also increasing, and are positioning themselves favorably on the European scene. The prices ofbarley national fodder prices follow the increase in the price of soft wheat.

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In Chicago, the courses of wheat on the CBOT rose despite pressure from the strong dollar. Export inspections were satisfactory with 403,719 t for the week ending December 19. Furthermore, the accumulation of exports United States for the current campaign shows an increase of 27.2% over last year, with 11.94 Mt.
On Euronext and the French physical market, wheat prices closed strongly, supported by the weakness of the euro against the dollar. This allows the French origin to find competitiveness at the moment when the Russia once again reduces its export quota for the second part of the campaign. In this context, theAlgeria launched a new call for tenders for 50,000 t of soft wheat for loading between January and March 2025. On the other hand, Sovecon estimates exports of Russian soft wheat down in December to 3.3 Mt compared to 4.1 Mt last November and 3.7 in December 2023.

In the United States, the prices of but on the CBOT rose modestly with the support of the momentum atexportation. Weekly corn export inspections amount to 1,123 Mt, according to the USDA. Cumulative exports for 2024-2025 amount to 14.44 Mt, an increase of 26.84% compared to last year. On the other hand, a new sale of 132,000 t of American corn has been reported. Consequently, corn prices continue to benefit from support despite a strong dollar and a promising Brazilian harvest. Report further support with dry conditions in Argentine.
On the French markets, corn prices increased with the support of the weakness of the euro against the dollar. French origin is becoming more competitive on the European market compared to imports from origins outside theEuropean Union.

On the macroeconomic side, theeuro continues to sail timidly just above parity at 1.04 dollar in a market that fluctuates little as the end-of-year holidays approach. For its part, oil fell, penalized by a strong dollar. Fears about the Panama Canal were not sufficient to support prices in positive territory.

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Commerce international :

• Algeria, wheat, call for tenders : 50,000 t for loading January-March 2025 (Reuters)
• United States, wheat, export inspections : 403,719 t for the week ending December 19 (USDA)
• United States, corn, export inspections : 1,122,861 t for the week ending December 19 (USDA)
• United States, corn, sale : 132,000 t to an unknown destination over 2024-2025 (USDA)

French physical markets from December 23, 2024 (July base for cereals)

Quotations of milling products from December 17, 2024

Commercial quotes for dairy products from December 19, 2024

Dollar/euro evolution of December 23, 2024

Chicago Futures Market Closes December 23, 2024

Closing of the Euronext futures market on December 23, 2024

International market quotes from December 23, 2024