Yesterday, Tuesday, the prices for wheat on the Euronext/Matif and on the CBoT were deep red. The surprisingly large Canadian wheat acreage and the progressing harvest in the USA are putting pressure on prices. Market participants also have the lush harvest prospects in Russia in mind. Accordingly, it went south. According to reports, Egypt has ordered 444,000 tons in direct purchase from Russia, France and Romania. In Kyiv, the Ministry of Agriculture announced that 138,000 tons of wheat left the country in June, compared to 43,500 tons in May. In addition, US export shipments were disappointing at just 111,830 tons. Overall, global concerns about the economy also had an impact on yesterday's grain trading. In addition to the agricultural markets, the crude oil markets and the financial markets were also pulled down significantly. Pre-market, there are currently slightly rising tendencies on the eCBoT for the dates from September 2022.
Source
VR AgrarBeratung AG
