France's wheat stocks remain good to very good at 64

Wheat prices rose on Friday. Wheat rose both on the cash markets and on the Paris stock exchange. In Paris, the leading May contract rose by 0.75 euros to 206.50 euros/tonne. The news situation is varied. Although the price momentum in Russian export prices has not continued for the time being, the consultancy Sovecon reduced its estimate for the coming harvest to 93 million tons (-1 million tons). Meanwhile, the analysis company IKAR, also from Russia, is forecasting record export volumes, which are also expected for the coming season. In France, the condition rating of wheat areas was left at 64% in the "good to very good" category. At this time last year, 93 percent were rated in this category. At the CBoT, the trend was clearly northwards for wheat. According to new weather models, there are signs of drought in parts of the Midwest in the coming weeks. In the northern growing regions, there is also growing concern about return frosts and the associated damage to crops. Additional support for wheat and maize is also coming from the smouldering conflicts, particularly in the Middle East following speculation about tensions with Iran. There are fears that the tensions could also affect Russia's willingness to export. Iran and Russia are considered allies.

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