COTidienne | Cereals – The fall in the euro boosts the prices of European cereals

THE prix wheat and corn have progressed on the walk European futures at the start of the year, i.e. between December 31 and January 2, after the markets close for New Year's Day. The decline ofeuro compared to the dollar stimulated the competitiveness of European origins on world markets, which has driven prices upwards. In addition, concerns about the level of production of wheat and the current weather conditions of concern in Russia also supported wheat prices. In corn, the prices of the European yellow seed benefited from the support of its CBOT counterpart.

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On the American markets, the prices of but have gained ground in Chicago. Rains in the Cordoba region in Argentine were not enough to relieve the water deficit soils and the situation remains worrying for Argentine corn. The quotations of the yellow seed also benefited from the support of those of the oil. The United States Energy Information Administration reports an increase in energy productionethanol from one week to the next. The upward revision of the production Brazilian corn market by the firm StoneX provided a single bearish element.

The US markets in wheat lost ground, however, penalized by the strength of the dollar against competing currencies, and under the influence of profit-taking after the increases in previous sessions.

Note the authorization by Chine of a new variety of wheat GMO and another in GMO corn, according to the media World Grain.

L’Inde plans to increase its storage capacities in wheat. Official investments have been announced to triple the state's storage capacity from the current 2.8 Mt to 9 Mt. At the moment, only 47% of Indian wheat production can be stored in good conditions. terms.

Finally, let us point out that in the absence of the Syrian outlet, the Russia redirects volumes of wheat from the occupied Ukrainian territories towardsEgyptrevealed a Ukrainian journalist.

Fundamentals:

• United States, ethanol, production : 1.11 million barrels per day the week ending December 27, or 4,000 barrels per day more than the previous week (Energy Information Administration)
• United States, ethanol, stocks : 23.64 million barrels, or 565,000 barrels more than the previous week (Energy Information Administration)
• Brazil, corn, production : 128.6 Mt compared to 128.3 Mt previously (StoneX)

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French physical markets from January 2, 2025 (July base for cereals)

Quotations of milling products from December 31, 2024

Commercial quotations for dairy products from January 2, 2025

Dollar/euro evolution of January 2, 2025

Chicago Futures Market Close January 2, 2025

Closing of the Euronext futures market on January 2, 2025

International market quotes from January 2, 2025