France Set to Export 300,000 Tons of Wheat to Morocco Amid Price Advantage

Renewed activity for French wheat exporters. According to industry operators, the Hexagon could ship up to 300,000 tons of wheat to Morocco. A dynamic whose impacts remain to be evaluated at the local level, due to the uncertainty that continues to hang over agricultural markets.

Wheat prices on Euronext reached 224.75 euros per ton, up 1.3%. An increase driven by the improvement in US markets and the decline of the euro. After a six-month decline, prices are rising again; this due to climatic variations in the United States and ever-increasing demand from importers.

Global agricultural trade is marked by Chinese tariff restrictions on Canadian canola and speculation on the next forecasts from the US Department of Agriculture. In such a context, the search for balance in the cereal sector is a strategic issue.