The wheat contracts in Paris closed unevenly yesterday, but the majority of grain continued its downward trend. The news that the missile impact in Poland was apparently a misguided Ukrainian anti-aircraft missile eased tensions at both Euronext/Matif and CBoT. The fact that Poland does not classify this as an attack provides relief overall, not only on the agricultural markets. The grain agreement continues to be the focus of the markets. This expires on Saturday as planned. A United Nations representative expressed cautious optimism yesterday that the agreement would be extended beyond November 19. Russia continues to demand that more countries buy fertilizers and grain from Russia. According to calculations by the "German-Ukrainian Agricultural Policy Dialogue" (ADP) association, Ukraine has exported 26 million tons of agricultural products since the beginning of the war, including 5.4 million tons of wheat and 10.3 million tons of corn. Around 4.3 million hectares of winter grain (3.6 million hectares of which are wheat) are said to have been sown in the country by the beginning of November. There is still a lack of offers from the agricultural sector on the cash markets in Germany.However, processing plants are currently showing increasing receptiveness due to falling stock exchange and cash market prices.
Source
VR AGRICULTURAL
