Latest news with #FranceAgriMer
Business Recorder
8 hours ago
- Business
- Business Recorder
Wheat up 2-3 cents, corn down 1-up 1, soy down 1-2
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday. Wheat - Up 2 to 3 cents per bushel CBOT wheat was buoyed by a slower than average U.S. winter wheat harvest, which reached 10% completion compared with a five-year average of 16%. Farm office FranceAgriMer has increased its forecast for French soft wheat exports within and outside the European Union in 2024/25, but the EU's biggest grain producer is still on course for its worst wheat export campaign this century after a rain-hit harvest. One of Russia's largest grain-producing regions, Krasnodar, has declared a state of agricultural emergency in eight drought-hit municipalities. CBOT July soft red winter wheat was last 3 cents to $5.52 per bushel. K.C. July hard red winter wheat was last up 3-3/4 cents at $5.51-1/2 per bushel, and Minneapolis July spring wheat rose 4-1/2 cents to $6.35-1/2 per bushel. Jordan gets 6 participants in 120,000 tons wheat tender Corn - Down 1 cent to up 1 cent per bushel CBOT corn traded on both sides unchanged, though it received some support from uncertainty over crop weather in the U.S. Midwest. CBOT July corn fell 1/2 cent to $4.31 per bushel. Soybeans - Down 1 to 2 cents per bushel CBOT soybeans eased on Wednesday as traders booked profits after a three-day price rally driven by strength in soyoil and the broader energy market, with continuing tariff uncertainty also pressuring prices. Support for agricultural commodities such as soybeans and corn has been underpinned by rising energy prices, fueled by escalating tensions between Israel and Iran. Higher crude oil prices improve the competitiveness of soyoil and corn as biofuel feedstocks. July soybeans were last down 1-3/4 cents to $10.72-1/4 per bushel.
Business Recorder
4 days ago
- Business
- Business Recorder
EU wheat rebounds
PARIS: Euronext wheat climbed on Friday as news of Israeli strikes on Iran encouraged investors to cover short positions after prices hit contract lows this week amid growing supply pressure. September wheat on Euronext was up 1.8% at 202.25 euros a metric ton by 1541 GMT, moving away from a contract low of 198.00 euros touched in each of the past two sessions. Israel's raids on Iranian nuclear and military sites sent oil prices sharply higher and fuelled a risk-off mood in other financial markets. 'Funds are heavily short and some shorts could be liquidated in the current environment,' Andrey Sizov, head of consultancy Sovecon, said of wheat. 'Matif (Euronext) fell below 200 euros and showed no intention to climb above it until now. If things more or less stabilise in Iran/Israel, I suspect that it will continue to slide lower.' A retreat in the euro after Thursday's 3-1/2 year high against the dollar also supported Euronext. Chicago wheat also rallied, recovering from a four-week low. Expectations of abundant Northern Hemisphere supply and stiff export competition continued to hang over the wheat market. Tunisia bought 100,000 tons of optional-origin wheat in a tender on Friday, welcome demand after a period of slack importer buying. But traders cautioned Black Sea wheat held a strong price lead over the west EU for the July/August shipment period Tunisia sought. Russian and Romanian wheat for July were on Friday around $221-$224 a ton FOB, about $10 a ton cheaper than French, depending on Euronext and exchange rate moves, they said. Cheap offers of Ukrainian new-crop feed wheat were seen as low as 192 and 197 euros a ton including delivery to north Germany/the Netherlands. But buyers were restrained, hoping for even lower prices pending the outcome of Ukraine's harvest as well as details on EU import quotas for Ukrainian grain. Improving harvest prospects in Europe also remained a curb on prices. French soft wheat ratings improved slightly last week, according to farm office FranceAgriMer, though traders are now monitoring a hot spell this week and dry weather forecast for the rest of June to see if this hurts wheat crops and accelerates winter barley harvesting. In Germany, widespread sunshine was expected to give wheat and rapeseed crops a further boost after repeated rain since late May. 'Wheat growing conditions can almost be described as perfect in parts of Germany,' one trader said.
Business Recorder
4 days ago
- Climate
- Business Recorder
French wheat crop rating improves, spring barley slips
PARIS: Ratings for French soft wheat improved slightly in the week to June 9, while spring barley conditions declined for a fourth consecutive week just as France is entering a dry spell set to last until the end of the month. The share of soft wheat rated good or excellent rose to 70%, up from 69% a week earlier, after recording declines in the past month as a dry spring has left northern regions parched, data from farm office FranceAgriMer showed on Friday. The soft wheat rating remains above the 62% recorded at the same stage in 2024. Soft wheat is the most cultivated cereal in France. Spring barley ratings fell to 71% from 73%, below the year-earlier level of 75%, FranceAgriMer said. Winter barley improved by one point to 65%, matching its 2024 score. The condition of durum wheat held steady at 73%, up from 63% a year ago, while grain maize remained unchanged at 85%, above the 2024 level of 80%. Maize sowing was complete.
Business Recorder
31-05-2025
- Climate
- Business Recorder
French cereal crop ratings slip again
PARIS: French cereal crop conditions declined in the week to May 26 but less sharply than in the previous week, data from farm office FranceAgriMer showed on Friday, suggesting showers may have tempered drought in northern regions. For soft wheat, France's most produced cereal, the office rated 70% of crops as good or excellent by May 26, down from 71% a week earlier and following a two-point drop in the preceding week. The rating was still above a score of 61% a year ago, when torrential rain led to the smallest French harvest since the 1980s. In contrast to last year's soggy conditions, a very dry spring has parched crop belts in the north of France and a swathe of northern Europe, raising doubts about the extent to which production will recover from the poor 2024 harvest. But traders expect showers and cool temperatures in the past week to give crops some respite ahead of a hot spell at the end of this week. For spring barley, the good/excellent rating decreased by one point to 74% after a six-point drop the prior week. The corresponding winter barley score also slipped by one point, to 65%, after a two point fall the previous week. The good/excellent rating for grain maize, however, declined by two points to 85%, after a one-point decrease the preceding week. That was still above the year-earlier score of 81%. Maize planting is almost complete, with 97% of the expected area sown by Monday, FranceAgriMer said.
Business Recorder
24-05-2025
- Climate
- Business Recorder
French wheat crop rating declines
PARIS: Crop ratings for France's main wheat crop fell last week while spring barley conditions deteriorated sharply, data from farm office FranceAgriMer showed on Friday, as dry weather persisted in major northern plains of the EU's biggest grain producer. FranceAgriMer estimated 71% of soft wheat crops were in good or excellent condition by May 19, down from 73% a week earlier though still above a score of 63% a year ago when torrential rain led to the smallest French harvest since the 1980s. For barley, good/excellent ratings for spring barley dropped to 75% from 81% a week earlier, slightly ahead of a year-ago 73%. The corresponding winter barley score decreased to 66% from 68% the prior week, now matching the year-earlier level. Northerly areas of France are part of a swathe of Northern Europe to have experienced a very dry spring, causing concern among grain traders as crops enter crucial development stages. While water reserves built up during last year's heavy rain have tempered the impact so far, spring barley crops are seen as particularly vulnerable after parched conditions since sowing. Traders are now watching to see if showers that reached northern regions mid-week and more rain expected in the coming days will help French cereal crops. For maize, FranceAgriMer rated 87% of the crop as good/excellent, down a point from the previous week but above a year-earlier 83%. Maize planting was winding down, with 95% of the expected area sown by Monday, it said.
