Wheat is becoming more expensive on the European market
On Friday, the Paris Stock Exchange saw a significant increase in the price of wheat contracts, which gives hope for the end of the strong downward correction that has been ongoing since the end of May. The impulse for the increase in prices was information about the deteriorating condition and delays in the harvest in France. Weaker harvests will also be in Germany and the entire EU, Ukraine and Russia. This should support the stock in the coming months.
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Siekierski: Farmers must receive help as soon as possible. Talks on Monday
Wheat in the September delivery contract on MATIF rose by 4.1% on Friday. and cost EUR 223.75/t (PLN 961/t), and y/y prices dropped by 3.7%. During the week, the price increased by 1.7%. The price of corn on the Paris Stock Exchange in the August contract increased by 1.1%. and amounted to EUR 220.00/t (PLN 944/t), and over the last year it decreased by 6.2%. On a weekly basis, the prices increased by 1.5%.
In the United States, grain prices are weaker than in the EU
Wheat on CBoT in the September contract increased by 1.4% on Friday. and cost USD 199.42/t. On a y/y basis, the prices fell by 25.3%. During the week, the price dropped by 1.5%. The price of corn in the September delivery contract on the Chicago Stock Exchange fell by 0.2%. and amounted to USD 153.73/t, and over the last year it decreased by 27.3%. On a weekly basis, prices fell by 2.9%.
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MATIF wheat, September contract – the price increased by 4.07% on Friday. (EUR 223.75/t – PLN 961/t).
Chart 1.
The quotations of September wheat futures contracts expressed in PLN are presented in the chart below:
Chart 2
In the continuation chart below of wheat contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 3
CBOT wheat, September contract – price increased by 1.40%. ($199.42/t – PLN 786/t).
Chart 4
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Prepare the warehouse and grain for storage
The Chicago Stock Exchange is currently dominated by a long-term downward trend, a medium-term upward trend, and a short-term upward trend.
Chart 5
MATIF corn, August contract – the price increased by 1.15%. (EUR 220.00/t – PLN 944/t).
Chart 6
The quotations of August corn futures contracts expressed in PLN are presented in the chart below:
Chart 7
In the continuation chart below of corn contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 8
CBOT corn, September contract – price decreased by 0.19%. ($153.78/t- PLN 606/t).
Chart 9
The continuation chart of corn contracts listed on CBOT is dominated by a long-term downward trend, a medium-term upward trend and a short-term downward trend.
Chart 10
