Some of Wednesday's strong price increases were cleared again yesterday on the Euronext/Matif. December closed at EUR 325.50 per tonne, EUR 3.50 lower. The statements of the Russian President are still moving and occupying the market. President Erdogan confirmed Russian criticism yesterday and will shortly meet his Russian counterpart on the subject. In Russia itself, the harvest forecast by the consulting firm IKAR was again increased by 1.5 million tons. The total wheat harvest is expected to be 97 million tons, exports will be increased to 46 million tons. Ukraine says it exported around 4.5 million tons of grain in August, 1.5 million tons of it via the Black Sea. The proportion of wheat is around half a million tons. The largest part is due to corn. The Euro gained on the ECB interest rate decision and climbed back above the $1 mark, putting additional pressure on Paris. The CBoT also went south yesterday. Pre-market, overseas contracts started today with a slightly green sign.
Source
VR AgrarBeratung AG
