Wheat: Italy under state of emergency

March 10, 2020 at 2:36 PM , Der AUDITOR
Play report as audio

FRANKFURT. The wheat markets are under pressure due to massive crashes on the stock and commodity exchanges, the failed OPEC Plus negotiations and the continuing spread of the coronavirus. As a result, the currencies in crude oil supplier countries such as Russia are coming under pressure. Italy's nationwide state of emergency due to Covid-19 shows how the situation could also deteriorate in Western Europe.

After yesterday's crude oil price crash and the collapse of global stock and commodity markets, the wheat markets in the USA showed only a slight recovery tendency. Chicago was trading 1.1% higher than yesterday at the noon front date at USD 522 per bushel. In Paris, wheat missed yesterday's price by 2.4% at EUR 179.50 per metric tonne and caught up by EUR 1.00 per metric tonne by midday. The impetus for a slight price recovery on the stock and commodity exchanges in the USA was provided by the announcement by US President Donald Trump that he would make available a package of measures

View related articles

Go to the News Overview
Organic Commodities
Nov 12, 2024
ASUNCIÓN. As yields dropped to shockingly low levels for chia seeds in South America, the new season started off with a shock for the market. Silver lining is that things may change in December.
Grains
Oct 31, 2024
DALIAN/KYIV. Smaller acreages are causing a significant drop in production in Ukraine. Meanwhile, the EU was able to increase its total imports by 12% thanks to increased shipments from Kazakhstan.
Grains
Oct 30, 2024
DALIAN/KYIV. The new crop is causing prices to fall in China. In Ukraine, the average yield per hectare of the 2024 millet crop has fallen by 18% compared to last year.
Grains
Oct 17, 2024
LIMA. Favourable weather conditions and larger acreages led to an increase in quinoa production in Peru this year. In some regions, the crop was 85-90% larger than last year.