Slight pullback in wheat pending Chicago

The courses of wheat a you corn trended slightly lower this Tuesday at mid-session on Euronext. Trading volumes, however, remain tight pending Chicago’s opening this afternoon after a three-day long weekend. European quotations nevertheless find support in the downward reversal of the eurodollar parity, which mechanically reinforces the competitiveness of EU origins internationally.

The return of dry conditions in the American Midwest is again threatening winter wheat crops in the US. Wheat ratings in Kansas will also be watched closely tonight after the close given the cold snap that hit crops last month. Also in Argentina, the dry and hot climate is putting pressure on the maize market.

Around 12:30 p.m., Euronext wheat maturing in March 2023 sank by 2 €/t, to 307.25 €/t, while the May 2023 contract contracted by 2.25 €/t, to 304 €/t. Euronext corn for March 2023 delivery fell by €1/t, to €295/t, the June 2023 term fell by €0.75/t, to €295/t.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.