On the cash market, wheat costs €231/tonne franco South Oldenburg and thus remains stable despite international price declines. On the Matif, prices for the most traded March date fell significantly by €5.75/tonne. One of the reasons for the correction is probably that the situation in Ukraine with regard to the grain ports did not deteriorate further last week despite fears of Russian attacks. The estimates of the Russian analyst firms did not paint a uniform picture. While IKAR slightly raised its estimate of grain production, SovEcon lowered its forecast for wheat exports for the 24/25 season. Sellers are acting cautiously on the spot market and in futures transactions, apparently betting on a possible market shortage in the coming year.
Source
VR Agrar
