COTidienne | Cereals – Net rebound in wheat and corn prices on the CBOT

THE prix soft wheat,barley fodder and corn have not evolved on the walk French physics between December 25 and 26, the operators being largely on vacation at the end of the year. Let us remember thatEuronext was closed this Thursday, December 26, while the CBOT has reopened its doors.

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The courses of wheat and corn in Chicago rebounded on December 26 due to massive purchases by investment funds after a day and a half of closure of the US futures market.
The quotes of but even reached their highest level in six months on the March deadline. It must be said that the temperatures in Argentine are unseasonably high and showers are only expected next week, with a risk of prolonged drought. At Brazilthe value of the real against the dollar will certainly push Brazilian farmers to massively plant corn after the soy harvest, which augurs a large harvest of safrinha corn.
The markets are awaiting today’s publication of weekly US export sales by the USDA.

L’tender Algerian launched on December 23 would have resulted in the purchase of 1.17 Mt of wheat, to be delivered in February-March, to operational origins. The origins of the perimeter of the Black Sea would be preferred, given their attractive prices.

Note that in 2024, the production cereal Chine exceeded 700 million tonnes (Mt) for the first time: it amounted to 706.5 Mt, up 1.6% over last year, according to data from the local Statistics Bureau, released on 26 December and reported by World Grain. THE companies Chinese state companies will for the second consecutive year purchase more than 400 Mt of cereals to farmers : in 2024, 420 Mt would be acquired in this way. The Chinese government declares that at the end of 2023, the capacity of China’s standard warehouses, in good condition, exceeded 700 Mt, an increase of 36% compared to 2014. As a reminder, at the start of the week, China launched a ten-year plan (2024-2035) to stimulate consumption of cereals and develop the industry of transformation cereal production, in order to improve the country’s food security.

Furthermore, in Saudi Arabiaa new grain handling terminal was inaugurated at the Yanbu commercial port, according to World Grain. It has a capacity of storage of 156,000 t, made up of twelve silos with a total volume of 96,000 t and a flat warehouse of 60,000 t. It can process up to 3 Mt of grains per year – wheat but also barley, corn and soya – thanks to a capacity of unloading 8,000 tonnes per hour.

Side macroeconomicsthe courses of oil fell on Thursday in a sparse market after Christmas, with operators reassessing the impact of Beijing’s recent announcements on the revival of the Chinese economy, according to AFP. There Chinethe world’s largest importer of oil, announced the implementation of an “even more active” budgetary policy for 2025, in particular to support a consumption still fragile, paving the way for an “increase” in its deficitexplains the media. L’euro has hardly evolved in the face of dollar between December 24 and 27, going from $1.040 to $1.041.

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French physical markets from December 26, 2024 (July base for cereals)

Quotations of milling products from December 24, 2024

Commercial quotes for dairy products from December 26, 2024

Dollar/euro evolution of December 24, 2024

Chicago Futures Market Closes December 26, 2024

Closing of the Euronext futures market on December 24, 2024

International market quotes from December 26, 2024