Daily | Cereals – Soft wheat prices rebound sharply, reaching €230/t spot on Euronext

THE prix soft wheat on Euronext and the walk physique French stocks rose between the sessions of June 28 and July 1, due totechnical purchases and concerns about the harvest French. Those of fodder barley naturally followed, as did those of corn, but to a lesser extent.

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The harvests ofbarley are advancing in France, and the results remain disappointing, worrying operators about the harvest of wheat.

In Russia, the export taxes on the wheat have been lowered, which could accelerate the exports local, and weigh on international values. In addition, a private analyst indicates that a meeting between Turkish and Russian authorities should take place on July 3 or 4 to find out whether the Russians can be exempted from the ban on imports of wheat imposed by Turkey.
The harvest of soft winter wheat in UNITED STATES is progressing well, with 54% of plantings completed last week according to the USDA Crop Progress Report. Spring wheat growing conditions are improving, with 72% rated as “good to excellent,” compared to 71% last week.
US weekly export inspections last week came in within market expectations, at around 310,000 t, according to the USDA.

In butTHE growing conditions are deteriorating in the United States, rated “good to excellent” in 67% of cases. But this remains higher than last year at the same time. Harvests in Brazil are progressing well: it is 49% complete in the Centre-South region of the country, compared to 16% last year at the same time, according to the analyst AgRural.
US weekly export inspections came in last week in line with market expectations, at nearly 820,000 t, according to the USDA.

Commerce international :

• United States, wheat, weekly export inspections : 309,775 t last week (source: USDA);
• United States, wheat, weekly export inspections : 819,577 t last week (source: USDA).
• Saudi Arabia, soft wheat, purchase : 235,000 t of hard wheat at $259.75-266/t C&F, delivery September-October (source: private).

French physical markets from July 1, 2024 (July basis for cereals)

Milling output quotes from June 25, 2024

Commercial quotations of dairy products for June 27, 2024

Dollar / euro evolution from July 1, 2024

Chicago Futures Market Closes July 1, 2024

Closing of the Euronext futures market on July 1, 2024

International market quotes from July 1, 2024