Trade4go Summary
Wheat and corn prices on Euronext are experiencing a decline due to the strong eurodollar, which is reducing the competitiveness of EU origins on the global market. The situation is worsened by tight Russian supply expected in the second half of the campaign and concerning growing conditions in the country. Corn is also under pressure due to potential negative production in South America due to lack of rain in January, and a slowdown in export flows from Ukraine. As a result, Euronext wheat and corn prices for March and May 2025 have seen a decrease.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Wheat prices continued their decline on Monday at mid-session on Euronext, in a market mainly penalized by the rapid rebound in the eurodollar parity. The strengthening of the single currency against the greenback mechanically degrades the competitiveness of EU origins on the international scene, in a context of already very heavy global competition. The tightening of Russian supply expected during the second half of the campaign and the still worrying growing conditions in the country remain at the center of attention. Corn was also under pressure from the eurodollar at mid-session, but showed more resilience given growing concerns about South American production. Weather maps predict very little rain during the month of January, which risks significantly degrading the country's production potential. The slowdown in export flows from Ukraine also gives the market some ...
TerreNet
Jan 6th, 2025
