After the strong price increases in the past few days, the bulls were no longer able to assert themselves on the Paris stock exchange. The front month remained at the level of the previous day. After the courses in Chicago briefly went into reverse gear, yesterday's trading session saw a clear upward trend. The July date recorded the strongest gain of $30 US cents/bushel and thus costs the equivalent of EUR 445.58 per ton. In addition to the price-determining news from India about the export ban, the report that the state of US wheat stocks had continued to deteriorate provided additional impetus. According to the USDA, only 27% of the stocks are in good to very good condition. That is 2% less than in the previous week. The slow wheat sowing continues to cause concern. The analysts report that only 39% of the planned space has been ordered so far. The average in recent years was 67%.
Source
VR Agrarberatung
