COTidian | Cereal prices – Competition from the source of the Black Sea and the situation in China are weighing on soft wheat prices

Among the competition of the original grains black Sea and concerns about the situation in China, where the population is less and less tolerant of the restrictions linked to the Covid-19 epidemic, the soft wheat contract on Euronext closed on Monday 28 November. Its counterpart also stalled overseas, with the Chicago futures market fully recovering after the US Thanksgiving holiday. In this context, the quotations of the Wheat he was born infeed barley in sympathy fell on the physical hexagonal market. The data for the 2022/2023 campaign published by the European Commission may also have weighed on the price of wheat. We recall that 2022 production is estimated at 127 Mt and exports dropped to 34 Mt, bringing the carry-over stock to 15.5 Mt (+1.8 Mt compared to last month).