In the wheat markets on this side and the other side of the Atlantic, this week and especially today, the eyes are on the September WASDE of the USDA. Tonight at 6:00 p.m. German time, the US Department of Agriculture will publish its updated estimates of production, consumption and ending stocks of global agricultural goods. Traders expect US production to be cut. At the same time, Australian production is likely to increase as well as Canadian production. Australia recently benefited from abundant rainfall in its populations. Wheat prices rose recently on Euronext / Matif. The courses benefited from the two consecutive increases in export prices in Russia and the rather disappointing harvest in Ukraine. The ASP fund in Brandenburg is currently not yet on the Paris stock exchange. In the cash markets, however, there is a certain reluctance on the part of buyers here and there. Should China impose an export ban on German pork, as South Korea has already done, this should have medium-term effects on feed demand. With the start of trading today, the wheat prices drop slightly.At the CBoT the courses can increase again this Friday and trade at the eCBoT with surcharges. The spring wheat harvest is not progressing as fast as in other years and the sowing of the winter wheat fields is also progressing more slowly, in some states it has not even started, which is unusual for this time. The prospects from Australia and the currently strong dollar are having a negative impact on the US stock exchanges. Grain maize on the Matif can move up this week and is unchanged on Friday with the start of trading. The sellers go into the sales negotiations with high asking prices, but they rarely arouse interest. Since yesterday, there has also been a certain amount of uncertainty regarding the ASP. This gives wings to the US stock exchanges. Corn at the CBoT is growing as is soy. Traders expect China to impose an export ban on German pork and export volumes from the US to increase. This should also increase the domestic calls for soy, soy meal and corn as feed. Ethanol production continues to grow and the export figures, which will be published today at 2:30 p.m., could once again show good demand.China in particular is currently buying large quantities of agricultural goods from the USA. Given these prospects, the fact that the Basilian harvest was corrected upwards no longer dampens the market. Most recently, for the first time in over a year, the majority of professional investors had positioned themselves long again and thus bet on rising prices.
ZMP Live Expert Opinion
There is movement in the trade in both wheat and maize. The maize harvest is already in full swing in many regions. The ASP fund in Brandenburg can, however, influence demand and put corresponding pressure on prices.
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