Wheat was down sharply yesterday. In Paris, prices fell by 8 euros to 325.75 euros/t in December. The other futures contracts on the Euronext/Matif also lost significantly. The lush Russian harvest is particularly decisive. The Russian consulting agency IKAR has again raised its forecast for the local harvest and now expects 99 million tons of wheat, which would exceed the previous record by 13 million tons. The fact that there were no new comments regarding the export corridor in the Black Sea until yesterday is seen by the market as an opportunity for the agreement to continue. At the CBoT, the courses are also in red yesterday. At 757,000 tons, export shipments are better than in the same week last year, but here, too, concerns about Russian competition play a role in trade. In Germany, spot market prices are also under pressure again. Export demand in Germany is currently subdued, as can be heard from the export ports in Rostock and Hamburg.
Source
VR AgrarBeratung AG
