COTidienne | Cereals – The rebound of the euro weighs on European prices of wheat and corn

THE prix wheat have lost ground on Euronext between January 3 and 6, which had an impact on the walk French physics of soft wheat andbarley fodder. Corn prices closed the session stable to slightly down. On these two products, the rise in the single European currency has penalized export competitiveness.

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Conversely, the decline of the dollar against other currencies boosted the prices of American cereals. THE wheat closed higher on the CBOT in Chicago, as well as Kansas City and Minneapolis. In winter wheat, concerns about winter temperatures in the state of Kansas, which concentrates a large part of the productionwere also playing on the rise. Temperatures remain very low, down to -20°C in certain areas of the UNITED STATES. In addition, precipitation remains scant and soils dry, the USDA reported in its weather bulletin. Figures ofexports weekly returns higher than expected in wheat also supported prices. In India, the country could resort to imports again. Wheat availability for millers are in fact increasingly rare, and the costs high, so that the mills are no longer working at full capacity, reports Reuters. However, the government had lowered the stocks authorized for millers in order to improve the circulation of goods in December. This also provided support for US wheat prices.

The prices of but were showing an increase on the CBOT in Chicago, supported like wheat by the fall in dollar. The taxation measures provided for by Donald Trump could ultimately concern fewer products and destinations than expected, which weighed on the greenback. Weekly corn exports were within expectations; with the cumulative total for the campaign reaching 24.5% more than the previous campaign, according to the USDA. Finally, the dry conditions in Argentine continue to push corn prices upwards.
In Ukrainedemand for corn was present but limited in recent weeks, which kept prices stable, according to Ukragroconsult.

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Commerce international :

• United States, wheat, exports : 412,342 t for the week ending January 2 (source: USDA)
• United States, corn, exports : 847,463 t the week ending January 2, i.e. -6.6% from one week to the next and -22.4% compared to the same period in 2023-2024; for a total of 16,236 Mt over the current campaign (source: USDA)

French physical markets from January 6, 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 6, 2025

Chicago Futures Market Close January 6, 2025

Closing of the Euronext futures market on January 6, 2025

International market quotes from January 6, 2025