Durum wheat: supply is dwindling, prices are increasing

THE prix of soft wheat on Euronext and the French physical market lost ground between October 28 and November 4, given the improvement in weather conditions in various major global production basins. Starting with Russia where rainfall recently fell, allowing sowing work to progress. Then, the mild temperatures allow the sowing window to be extended. In the United States, beneficial rains also occurred. In France, sowing of soft winter wheat increased during the week ending October 28, going from 21% to 41% (compared to 60% in 2023 at the same time), according to Céré'Obs.

Tariff gain in durum wheat

The prices of durum wheat on the French physical market increased between October 28 and November 4. The offer is not very available, limiting exchanges. Spanish, Italian and French interests are reported. In France, sowing of durum wheat began during the week ending October 28, increasing from 1% to 4% (compared to 9% in 2023 at the same time), according to Céré'Obs.

Increase in feed barley prices

The prices offeed barley on the French physical market continued to climb between October 28 and November 4. Port premiums continued to rise, the result of demand from shippers which is being confirmed for the moment. In France, winter barley sowings increased during the week ending October 28, going from 38% to 62% (compared to 74% in 2023 at the same time), according to Céré'Obs.

But : declining values

The prices of but on Euronext and on the French physical market crumbled between October 28 and November 4, while the contract on the CBOT progressed. Belgian, Dutch and Spanish buyers make purchases, mainly in November-December. In France, the less humid weather allows for progress in the harvest. The returns are still good, but we must remain cautious, because much remains to be done. According to Céré'Obs, corn growing conditions improved during the week ending October 28, gaining one point to 76% (compared to 83% in 2023 at the same time). Harvests are progressing, going from 25% to 38% (compared to 89% in 2023).