Wheat prices fell again midweek. The new front month of September 2023 lost 1.75 euros/t and closed somewhat weaker at 232.25 euros/t. Hardly anything is changing on the domestic cash markets. There is speculation as to how large the unsold quantities are in agriculture, and the majority assumes that the available quantities of wheat will be completely sufficient until the new harvest. Mills and concentrate plants continue to show only limited interest in free quantities. Overall, the market is currently torn between the tough negotiations to continue the grain agreement for Ukraine on the one hand and the international competitive situation and the improved prospects in the US growing areas on the other. So far, there have been no signs of an agreement at yesterday's talks to extend the agreement. A Kremlin spokesman said yesterday that Russia stands by its demands and will not deviate from them. The CBoT also went south, although the losses here were more moderate than on the previous day.Growing and planting conditions have continued to improve in the eastern Great Plains, but rain showers continue to hamper planting in the northern Great Plains. The first dealers are also positioning themselves for tomorrow's WASDE.
Source
VR AGRICULTURAL
