French cut export forecast

After quiet trading, wheat contracts fell slightly yesterday. The front month recorded a loss of 2.00 euros/ton to 194.75 euros/ton. The French have cut their export forecast for both intra-EU and non-EU exports. In the USA at the CBoT, the courses also went south. The May date ended trading at $2.00 US cents/bushel in the red and therefore cost the equivalent of 179.69 euros/ton. Little by little, global export transactions are once again becoming the focus of market participants. The USDA is releasing export data again today. Market observers assume that this amounted to between 200,000 and 550,000 tonnes last week. Meanwhile, reports from Texas and Kansas show that the soil has recovered significantly from the drought. A NASA study confirms this. For this purpose, the relevant areas were examined using satellites.

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