On Friday, January 30, wheat prices on the Chicago Board of Trade declined, while prices in Paris increased, supported by a weaker euro and traders shifting to more distant contracts, reports ProAgro Group.
In particular, the March wheat futures contract on CBOT fell by $1.3 to $197.7 per ton. At the same time, the comparable March contract on Euronext rose by $1.2 to $230.1 per ton.
According to Barva Invest, competition between millers and exporters for milling wheat remains strong on the Ukrainian market. However, the supply side stays restrained, with sellers unwilling to actively offer volumes at current price levels. Wheat with 11.5% protein is currently bid at $210–212 per ton DAP at deep-sea ports, compared with $208–212 per ton a week earlier.
Corn prices on the Chicago exchange also edged lower on Friday, pressured by a stronger U.S. dollar and the absence of supportive fundamental factors. The March corn futures contract on CBOT declined by $1 to $168.6 per ton. On Euronext, the March corn contract dropped even more sharply, losing $1.4 to settle at $229 per ton.
On the Ukrainian market, demand for corn remains steady despite some export destinations already being covered. Limited supply continues to support prices. Corn bids at deep-sea ports on a DAP basis currently stand at $211–213 per ton, up from $205–209 per ton last week.
Recently, market analysts also assessed how wheat and corn prices and export volumes could change following the free trade agreement between the European Union and Mercosur.
