COTidienne | Cereals – Slight decline in wheat and corn prices, due to the rise of the euro against the dollar

THE prix soft wheat on Euronext and the walk French physical figures regressed somewhat between November 6 and 7, a consequence of the increase ineuro facing the dollarpenalizing the attractiveness of European origins, and French in this case. Same observation for corn andbarley fodder on hexagonal squares.

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On the side of wheat tender, in addition to the rebound of the euro compared to competing currencies, let us point out the crumbling of values ​​on the CBOT in Chicago. The Russian authorities have somewhat raised their forecasts of production national for 2024.
Add to this the improvement of growing conditions in Argentine.
International competition continues to rage. An article in Le Figaro on November 6 announced that “the Professional Association of Banks and Financial Institutions (Abef), a public institution serving as a voice for the Algerian authorities to regulate trade, summoned local banks on Monday, November 4 to inform them (verbally) of a new measure: import and export operations, from and to the Francecan no longer be processed. The Algerian authorities denied this the next day, announced BFMTV. It nevertheless remains that the Franco-Algerian relations are going through a period of great turbulence. Remember that theAlgeria excluded French wheat during its last two tenders. If no conclusions can be drawn at this time, the matter must be followed closely.

In butprices on Euronext also lost ground. However, this movement of withdrawal, linked to the evolution of euro-dollar paritywas slowed down by the rise in values ​​on the CBOT in Chicago. International demand for US origin remains dynamic. As evidenced by the sales US weekly exports, which last week reached more than 2.7 Mt.

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Fundamentals:

• Russia, soft wheat, production : 83 Mt in 2024, 82 Mt according to the USDA in October 2024 (source: Russian authorities).

Commerce international :

• United States, corn, foreign sales : 2,766,500 t last week (source: USDA).

French physical markets from November 7, 2024 (July base for cereals)

Quotations of milling products from November 5, 2024

Commercial quotes for dairy products from November 7, 2024

Evolution dollar / euro du 7 novembre 2024

Chicago Futures Market Closes November 7, 2024

Closing of the Euronext futures market on November 7, 2024

International market quotes from November 7, 2024