On the US wheat markets, the bulls were only able to hold the lead for a short time. The signs were red before the weekend. The Chicago May contract fell by 2.75 US cents to the equivalent of 186.87 €/t. Contracts in Kansas and Minneapolis also recorded slight losses. Trading was largely without impetus and many investors were cautious ahead of the weekend. In the run-up to the upcoming Wasde report on Tuesday, analysts expect only minor adjustments to ending stocks. The weakening US dollar was only able to curb losses to a limited extent. In addition to the turbulent tariff policy, traders are focusing on the weather situation in the US Plains. According to the USDA, just under 24% of winter wheat stocks are affected by drought - an increase of two percentage points in just one week, heightening concerns about potential growth problems. Meanwhile, wheat prices on Euronext in Paris continued their slide. The May contract fell to a new six-month low of €221.75 per tonne. The main factor remains the strong euro, which significantly impairs competitiveness against wheat from the Black Sea region. Developments in stocks in the EU also dampened the buying mood on the US markets. According to FranceAgriMer, French wheat stocks improved slightly, but persistent soil moisture following heavy winter rainfall is still slowing the recovery.
Source
VR AGRAR
