Wheat demand provides optimism

On yesterday's trading day, wheat prices were able to interrupt their descent for the time being. The September date in Paris closed 6.75 euros/t higher at 356.75 euros/t. Wheat prices also rose in Chicago. Converted, the July front date here costs 321.86 euros/t. The correction was mainly triggered by tenders from important importers. Egypt is active with a tender on the world market, and various Asian countries are also increasingly looking for grain after the recent price correction. Algeria recently bought in 740,000 tons, according to European exporters. The price increase will continue to be limited by the rapid harvest. Expectations for the Russian harvest also continue to hover over the market. Pre-market prices on the eCBoT can trend slightly positive. On the cash markets in Germany there are still occasional sales of grain from old crops. The pricing is usually tough.