Wheat prices are volatile this week. After the rise on Tuesday and the fall on Wednesday, the contract rose again yesterday, Thursday. The most traded May date closed with a plus of 2.75 euros/t and was able to climb back over the 200 euro mark. The closing price in the contract was 200.25 euros/dt. At the wholesale level, the spot markets have recently shown unchanged prices for bread and feed wheat compared to the previous days. Farmers' protests against Ukrainian grain deliveries and low prices continue in Poland. As the Ministry of Agriculture in Warsaw emphasizes, according to the agreement, Ukrainian transports are only allowed to travel through Poland. According to the Polish Ministry of Agriculture, it would be more correct to block the border with Germany, since the Federal Republic does not have an embargo against Ukrainian agricultural products. The International Grain Council left its forecast for the global wheat harvest unchanged from the previous month's estimate at 788 million tonnes. However, due to slightly higher expected demand, stocks will be reduced by 1 million tonnes to 265 million tonnes globally at the end of the season. On the CBoT, wheat ended the trading session in a sideways movement. From May 24, the contracts were mostly able to gain. Export sales to be released today are expected to be in the range of 300,000 to 500,000 tonnes. US exporters are also eyeing a current tender from Japan for 116,000 tons of wheat. The competitors are Canada and Australia, results are expected today. There are friendly developments on the CBoT this morning before the trading session.
Source
VR Agriculture
