Wheat prices rose on both sides of the Atlantic. The most traded December date closed the trading day with a daily profit of 2 euros per ton. The Federal Ministry of Agriculture estimates the German winter wheat harvest at 22.1 million tons, which is 1 million tons higher than last year. According to the BMEL, triticale and barley production also increased. In Russia, export prices continue to fall slowly. Russian exports are only competitive to a limited extent on the international market. The strong ruble also makes Russian wheat unattractive. According to reports, farmers have recently held back their wheat stocks. However, the now lush harvest and lack of storage capacity are causing selling pressure. In Ukraine, the wheat harvest is said to be 98 percent complete, the government expects a harvest of only 18.8 million tons. Today, the Canadian statistics agency publishes its assessment of the wheat harvest. A total harvest of 34 million tons is expected in advance. Last year only 21.6 million tons were reached due to the drought.
Source
VR AgrarBeratung AG
