After initial losses at the beginning of yesterday's trading session, the front month and the following months up to May 25 closed the trading day with slight gains. At the closing bell, a gain of EUR 0.50 and a closing price of EUR 257.00/t were on the scoreboard. The CBoT also moved northwards yesterday after pre-market losses in the course of the trading session. The contract was able to reach a new ten-month high. The EU Commission published export figures for the first time since the end of April. The figures show that 26.26 million tons of wheat were exported by 3 May. This is still below the previous year's figure. At the same time in 2023, the figure was 27.31 million tons. What is striking in the statistics is that China has more than doubled its soft wheat bookings in Europe compared to the previous financial year. The dominant topic on both sides of the Atlantic continues to be the reduced harvest forecasts for Russia. Yesterday, ICAR lowered its estimate by a further 2.5 million tons to 83.5 million tons, but at the same time pointed out that the actual extent of last week's frost damage is not yet clear. Pre-market signs are clearly green in Chicago this morning.
Source
VR AGRAR
