Wheat and corn prices were up midday on Monday in the European market, driven by robust global demand and concerns over crop quality in Australia.
LThe price of wheat, which has been above 250 euros per tonne for a month, again crossed Monday at the opening of the bar of 300 euros per tonne shortly on Euronext. This continuous rise in prices is fueled by both strong international demand and world productions below expectations.
It has been worsened for a few days by “fears about a qualitative deterioration in Australia” because of the rains and “rumors of new Chinese purchases” of French wheat which could feed the tension on the markets, notes the firm Agritel.
On the international scene, activity is not weakening, observes the Inter-Courtage firm: in the Philippines, two groups of importers have launched a call for tenders for the purchase of a minimum of 100,000 tonnes of feed wheat, of optional and Australian origin (for 40%).
South Korea bought some 64,000 tonnes of optional origin maize, while Turkey increased the volume of its feed barley tender launched last week to 370,000 tonnes (+50,000 tonnes).
In the Black Sea basin, wheat prices continued to rise, as Russia raised the wheat export tax to $ 78.3 per tonne (from $ 77.1 last week) , reports Inter-Courtage.
In France, where winter sowing is almost complete, the government published a decree on Sunday which imposes schedules for the use of plant protection products during the flowering period, in order to protect pollinating insects.
The time slots retained (two hours before sunset and three hours after) do not satisfy either beekeepers or environmentalists, who note that in July, at 25 degrees, bees still forage, and that this decree will not protect moths, active pollinators.
This decree was published the day after the presentation by the government of the main lines of the pollinator plan, promised in 2020 after the announcement of the temporary reintroduction of neonicotinoid insecticides for the cultivation of beets.
Around 1:00 p.m. (12:00 p.m. GMT) on Euronext, the price of common wheat gained 6.25 euros to 306 euros per tonne on the December deadline and 6.50 euros on that of March at 303.5 euros per tonne, for around 30,000 euros. lots exchanged.
Maize rose from 6.75 euros to 255.5 euros per tonne on the January deadline and from 6.50 euros to 254 euros per tonne on that of March, for around 2,000 lots traded.
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