France's wheat stocks are a concern

Shortly before the weekend, the wheat contracts on the Chicago stock exchange no longer managed to turn into the green. The leading May date posted a loss of $3.75 US cents/bushel to $528.50 US cents/bushel. In particular, the current rather weak global demand and the pressure from cheap Russian offers made it difficult for the bulls to take the lead. Despite the weak guidance from the US stock exchanges, wheat prices in Paris rose slightly. The front month of May increased by 1.00 euros/ton to 195.00 euros/ton. According to recent reports from analysts at FranceAgrimer, just over half of the fields are in good to very good condition at 66% of the stocks. The result has worsened by two percentage points compared to the previous week. It is also the worst forecast for over four years. In particular, the difficult growing conditions in autumn as well as the very wet start to the year have had a negative impact on the development of stocks.

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