The Euronext wheat price have continued its bullish trend, driven by strong demand and gains in the global wheat market due to a potential export curb by Russia and the Phase-One agreement between US and China. Consequently, the Q1 2020 average price was up 3% q-o-q, despite a bearish trend for most of the first quarter, as a result of the coronavirus pandemic.
Similarly, the Q1 2020 average price of CBOT wheat was up 6% q-o-q and 11% y-o-y, supported by increased positive market sentiment due to the US-China Phase One agreement, and concerns regarding the 2020/21 output. This is despite dropping for most of Q1 2020.
From economical to political, all the factors impacting the wheat market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions.