Euronext wheat falls further below €230/t

Wheat and corn prices continued to decline for the third consecutive session on Euronext, due to increased competition from the Southern Hemisphere and decreasing international demand. The outlook for French wheat exports to third countries for the 2024/2025 campaign is low, with end-of-campaign stocks remaining high. Corn prices are also influenced by the consolidation phase of the US market and a heavy French balance sheet. The climate in Argentina is being monitored, and the harvest projection has been revised downwards to 48 Mt from 50 to 51 Mt. As a result, Euronext wheat and corn prices for delivery in March and June 2025 have decreased.

Wheat prices were in the red for a third consecutive session this Thursday at mid-session on Euronext, in a market still penalized by increasingly competitive competition from the Southern Hemisphere and declining international demand. The outlook for French exports to third countries for the 24/25 campaign was also confirmed at a very low level of 3.5 Mt in the latest monthly report from FranceAgriMer, while end-of-campaign stocks remain at relatively high levels. Corn prices also remained locked in their downward trend this Thursday at mid-session, in the face of a US market in a consolidation phase and an equally heavy French balance sheet, according to FranceAgriMer. The climate in Argentina remains under surveillance, however, and the rains announced at the end of the week could ultimately be less generous than announced. The Rosario Stock Exchange also revised downwards its projection for Argentina’s harvest this year, to 48 Mt, compared ...