22.
11.21
16:18

Euronext wheat at record high

Euronext Wheat Futures hit record highs today as rain disrupted Australia's crops fueled uncertainty about the availability of mill-quality grains around the world.
The front month of December on Euronext rose by 3:55 p.m. GTM by 10.25 euros or 3.4% to 310.00 euros (348.50 USD) per ton, a record price for Euronext and above an earlier high of 303.25 on Friday.
The March contract, the most active contract on Euronext, rose 3.2% to EUR 306.50, close to an earlier high of EUR 306.75.
Wheat delivery worries were exacerbated by buoyant import demand, steps by top exporter Russia to curb supplies and premature rains during the Australian harvest.
"The possibility of Russia introducing export quotas in early 2022, and the rain in Australia in the middle of the harvest, added to the nervous atmosphere," French agri-food investment group Unigrains said in a statement.
Weather charts showing more heavy rain in parts of Eastern Australia in the coming week have increased the risk of quality damage to the crop after a certain drought in the northern hemisphere has already reduced the availability of high quality milling wheat.
A brisk export pace from the European Union has contributed to the rally on Euronext as the market fears the bloc will run out of stocks.
Talks about further sales of French wheat to China last week and strong demand in Germany also supported the price strength.
"North German mills have been buying heavily in the last few days, which supports the premiums," said a German trader.
"We also saw more export shipments from Germany in the last week."
Recent exports from Germany include a 65,000-ton ship for Iran, one 65,000 tons for Morocco and one 25,000 tons for Algeria, traders said.
Traders said the dramatic increase in Paris resulted in realistic premiums not being available in Hamburg on Monday.
Winter grain sowing in the EU was nearing its end under mostly favorable conditions, although there were some arid zones in Central and Eastern Europe, the bloc's MARS harvest monitoring service said on Monday.

Source
Hansa Terminhandel GmbH
Rückrufservice
Please describe your request so that we can prepare for the callback.
Yes, I have read the Privacy Policy note and I consent that the data provided by me, including the contact data, for the processing of the inquiry and in case of questions are electronically collected and stored. My data will only be used strictly for my request and will not be passed without my consent. This consent can be revoked any time with effect for the future.'
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Help?

Do you have questions about ZMP Live? Our team will be happy to help you. Please feel free to send us a message:

Our privacy policy applies

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Register now

Jetzt registrieren und ZMP Live+ 14 Tage kostenlos testen!
  • Dauerhaft kostenfrei
  • Keine Zahlungsinformationen erforderlich