10.
05.24
08:30

Wheat prices rise on public holiday

After slight losses on Wednesday, wheat headed north again on Ascension Day yesterday. At the closing bell, an increase of 3.50 euros and a closing price of 244.75 euros/t were on the Matif scoreboard for the coming front month of August. The CBoT also saw an upward trend yesterday. Prices on the cash markets have also firmed up recently. Due to yesterday's public holiday, trading is only taking place in small quantities. Many growers are reportedly satisfied with field stocks. However, the plants have often only rooted shallowly, so that rainfall is already being longed for again in some regions. The EU Commission has still not published any updated export figures for Europe. However, Egypt has reportedly booked 60,000 tons of wheat from Romania and a further 360,000 tons from Russia. Overall, the grain market is looking ahead to the publication of the May WASDE by the USDA this evening. There will also be estimates for the coming global harvest. The latest weather developments in southern Russia, Canada and especially in the Great Plains will play an important role, according to analysts' expectations. In pre-market trading this morning, there are once again green signs in electronic trading in Chicago.

Source
VR AGRAR
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