Little grain trading on the cash markets with rising prices

On the stock market and on the cash markets, wheat went north on the second day of this week. On Euronext/Matif, the leading May date with high sales closed with an increase of 3 euros at 200.25 euros/t and was thus able to regain the 200 euro mark for the time being. Overall, grain is traded in manageable quantities on the local cash markets, although prices are somewhat firmer compared to the previous week. There is hardly any business being done with the coming harvest; nominal prices for feed wheat ex-harvest are currently around 213 euros/t in South Oldenburg. Prices for feed barley are around 203.00 euros per ton. In Europe, wheat prices are benefiting from solid demand. Jordan is currently putting 120,000 tons of milling wheat out to tender, Algeria is also active on the market with several tenders and Egypt has also opened a larger tender and at the same time canceled tenders that Russia had won due to price fixing. On the CBoT, prices were also able to benefit from international demand and increase accordingly. The front month of May in Chicago increased by 9.75 cents to 552.50 US cents/bu, which corresponds to a converted rate of 186.83 euros per ton. However, the contracts on the CBoT gave up some of their profits before the trading session today.

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