Corn: good growing conditions in the United States are driving prices down

Corn: good growing conditions in the United States are driving prices down
Corn: good growing conditions in the United States are driving prices down

THE price of soft wheat on the French physical market in new harvest fell between June 10 and 17, in the wake of the Euronext and CBOT futures markets, due to the arrival of harvests in the countries of the northern hemisphere of the globe . Add to this the strong international competition. The countries of Eastern Europe are showing themselves to be very aggressive. In addition, harvests are expected to be good in the United States, despite a recent deterioration in the condition of spring and winter crops. In France, growing conditions for soft wheat stabilized during the week ending June 10, at 62% (compared to 85% in 2023 at the same time), according to the weekly Céré’Obs report.

Fall in durum wheat prices

The prices of durum wheat on the French physical market in new harvests fell between June 10 and 17. Agreste estimates French areas at 231,000 ha, the result of a doubling of spring areas between 2023 and 2024, which would go from 7,000 ha to 16,000 ha. In France, durum wheat growing conditions stabilized during the week ending June 10, at 63% (compared to 81% in 2023 at the same time), according to Céré’Obs.

Crumbling barley milling prices

The prices ofmilling barley on the French physical market in the new harvest fell between June 10 and 17, following the fall in soft wheat prices. Agreste estimates an annual increase in the national spring barley surface area of ​​15%, to 515,000 ha in 2024. In France, winter barley growing conditions improved during the week ending June 10, gaining two points to 65% (compared to 85% in 2023 at the same time), according to Céré’Obs.

Drop in corn prices

The prices of but on the French physical market in old harvests fell between June 10 and 17, like corn contracts on the Euronext and CBOT futures markets, given the good growing conditions in the United States. The harvest in Brazil constitutes an element of pressure. In France, Agreste estimates an increase of 10.4% in the national corn grain base between 2023 and 2024, at 1.358 Mha. In France, corn sowing made good progress during the week ending June 10, going from 90% to 97% of the expected sole (compared to 99% in 2023 to date), according to the Céré’Obs report. Cultivation conditions have stabilized, at 80% (compared to 86% in 2023 at the same time).

This article was written by specialist journalists from La Dépêche-Le petit Meunier, which has been supporting grain trade operators since 1938.

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