Newsflash: Wheat awakens with strongest Euronext rally in over 8-months

News23/02/26

Last week, Europe’s wheat benchmark (MATIF) saw a significant gear shift, registering strongest weekly move in over 8-months!

Funds were likely reacting to wet weather, a weaker Euro, and RU/UKR diplomatic breakdown & lower area in the US.

This week will be watch closely to see if cash markets will follow, the rally can be sustained and how the Supreme courts ruling impact markets and currencies. Market appear to have woken up after a lengthy period of hibernation!

Watch the latest wheat video for more insights

More to follow.

Wheat accelerates rebound amid talk of importer interest

• Crude oil prices revive, after Trump warns Iran to ’behave’
• Commodities overall look for first winning session in a week
• Wheat prices especially strong, as weather jitters linger
• Algeria purchase stokes talk of importer restocking

Daily Markets

Weather concerns shield wheat from oil's slide below $80

• Crude oil prices fall to lowest since early days of Iran war
• Oilseeds dragged lower. Rapeseed falls below €510/t
• However, wheat recovers, amid weather concerns
• US wetness and heatwaves in Europe, eastern Russia in focus

Daily Markets

Grains stage recovery after early dive on Iran-US deal

• Iran-US ceasefire deal sends Brent crude to three-month low
• Grains initially pulled lower too, to multi-month lows
• However, signs of technical support help foster recovery
• Funds have already sold down grains at record pace