THE soft wheat priceof the’fodder barley in sympathy and but progressed on the French physical market between June 24 and June 1isJuly, while those of durum wheat have retreated.
Soft wheat price rebounds to over €230/tonne on Euronext
THE soft wheat price on the French physical market in new harvest progressed between June 24 and June 1is July, in the wake of the Euronext and CBOT futures markets. This is due to technical purchases and concerns about the French harvest. The barley harvest is progressing in France, and the results remain disappointing, worrying operators about the wheat harvest. In Russia, export taxes have been lowered, which could accelerate local exports. In France, soft wheat growing conditions deteriorated during the week ending June 24, losing two points to 60% (compared to 81% in 2023 at the same time), according to Céré’Obs.
Read also: 2024 Harvest – More corn and durum wheat than expected in the United States, according to the USDA
After a drop in prices on Monday linked to the bearish USDA report, soft wheat rebounded, exceeding €230/t on Euronext.
Durum wheat prices fall
THE wheat price hard on the French physical market in new harvest declined between June 24 and June 1is July, again due to strong international competition. In France, durum wheat growing conditions deteriorated during the week ending June 24, losing one point to 62% (compared to 69% in 2023 at the same time), according to Céré’Obs.
Corn prices rise
THE corn price on the French physical market in old harvest progressed between June 24 and June 1is July, like the corn contract on the Euronext futures market. Its counterpart on the CBOT in Chicago declined at the same time. Growing conditions are deteriorating in the United States, considered “good to excellent” in 67% of plots. In France, corn sowing was completed during the week ending June 24, going from 99% to 100% of the expected sole (compared to 100% in 2023 to date), according to the weekly Céré’Obs report from FranceAgirMer. Growing conditions for the cereal have stabilized, at 81% (compared to 86% in 2023 at the same time).
Increase in the price of grinding barley
THE barley price Grinding prices on the French physical market for new harvest strengthened between June 24 and June 1is July, following the rise in soft wheat prices. The commodity is quite competitive in formulation on the domestic market but not on the international scene. In France, winter barley growing conditions deteriorated during the week ending June 24, losing one point to 63% (compared to 82% in 2023 at the same time), according to Céré’Obs.
This article was written by specialist journalists from La Dépêche-Le petit Meunier, who have been supporting grain trade operators since 1938.
