After prices came under heavy pressure at the beginning of the week, a recovery was seen towards the end, with wheat and corn showing mixed developments. On the CBoT, May wheat lost 3.25 US cents to 536.00 US cents/bushel (€178.60/t) on Thursday, after falling to 525.25 US cents in the meantime. In Kansas, on the other hand, hard red wheat held its ground with a gain of 0.50 US cents to 569.00 US cents/bushel. Spring wheat futures in Minneapolis closed slightly down 1.25 US cents at 591.25 US cents/bushel.
Bullish impulses came from export sales: In the week ending March 27, orders totaled 340,000 metric tons of 2024/25 season wheat, up 40% from the four-week average. At the same time, weather conditions worried market participants, as drought and impending frost in US plains could cause potential crop damage. Nevertheless, the strength of the euro weighed on prices on Euronext in Paris, where May wheat fell by €1.00 to €221.00 per tonne.
ZMP Live Expert Opinion
The markets are showing mixed developments. While bullish factors such as strong export figures and weather-related risks are supporting prices in the short term, global trade uncertainties and the strong euro are having a dampening effect. Overall, the market therefore remains neutral to slightly bearish.
You see historical data because you're not logged in or not a ZMP Live+ member. Get your information advantage now!
