Speculative fund short covering has driven wheat futures higher in recent days, led primarily by gains in the Paris market. The May 2024 contract breached €200/t on Tuesday which was the market’s highest level since 27th February 2024.

The funds had built record short positions in the Paris wheat market but improved physical wheat demand, Black Sea supply concerns and EU political moves have been the catalysts to trigger a need to reduce the exposure to potentially higher prices.  

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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