The new week got off to a friendly start for wheat contracts on the CBoT. Futures rose moderately over the course of the day. The green signs also prevailed on the other two wheat exchanges in the USA and led to gains. The harbingers of the upcoming WASDE report can be felt on the exchanges. Market participants are positioning themselves accordingly on the markets. The latest Russian reports also caused speculation. According to this, higher export duties are to be levied on wheat. This could also benefit the prices of other wheat exporters. In the past, the favorable offers that put pressure on prices came mainly from the Black Sea region. Meanwhile, the latest data on US exports was disappointing. The USDA confirmed a quantity of 226,513 tons of wheat for the week ending 5 December, which corresponds to a decline of a good 24 per cent compared to the previous week. Nevertheless, the seasonal volume of 11.2 million tons is around 30 percent higher than the previous year's figure. On Euronext in Paris, wheat contracts again showed no major impetus. The March contract fell by €0.25 to €227.25/t. Market participants saw the main reasons for the weak trade in the stronger euro and weak export business.
Source
VR AGRAR
