Wheat and corn prices were up by midday Friday amid concerns over the cold snap and a move up on the Chicago Stock Exchange.
Read also: Wheat from the next harvest progresses, supported by fears related to the cold
Around 1:00 p.m. (11:00 a.m. GMT) on Euronext, a tonne of common wheat increased by 75 cents on the early May deadline to 212.50 euros, and by 1.25 euros on the September deadline to 199.25 euros, for around 10,000 lots traded.
The tonne of corn, it rose from 1.25 euros on the June deadline to 216.50 euros, and from 1.50 euros on the August deadline to 213 euros, for nearly 500 lots traded.
"
Fairly disparate
"
damage
“
Spring barley sown in the fall will be particularly affected.
(...) The cereals which are at a somewhat less advanced stage, for soft wheats, and which were sown earlier this winter, for spring barley, we are a little less worried,
”he told the author. 'AFP Eric Thirouin, president of the AGPB (union of wheat producers).
While it is still too early to accurately assess the consequences, it is already predicting “
fairly disparate
”
damage
.
"
It will have an impact above all on everything that is arboriculture and on the vines,
" said a cereal broker who requested anonymity, conceding however that rapeseed may encounter "
great difficulties
".
This episode of freezing "
partly explains the rise in prices
", also favored by the dynamics of the Chicago market where brokers adjusted their positions before the publication on Friday evening of a monthly report from the US Department of Agriculture, said this broker.
Read also: Wheat stocks down slightly for the United States and Europe
In addition, "
we have seen many international buyers return to the market, it contributes to the improvement in prices
", we added from the same source, before recalling that the "
downward trend
" on wheat prices , “
Even if it is stalling, it remains to be done
”.