One day after the USDA-WASDE, the wheat contracts on both sides of the Atlantic are showing in red. The December contract on Euronext/Matif fell by EUR 1.50 to EUR 327.25/t. Wheat continues its downward trend, with losses for the grain on the Matif scoreboard every trading day so far this week. There has recently been increased turnover on the local cash markets. In particular, quality wheat with a high protein content is obviously in demand, but the supply is correspondingly small. The demands of the farmers and the bids of the mills and feed mixers are often far apart. The grain exchange in Rosario (Argentina) once again lowered its own wheat forecast to 11.8 million tons (-1.9 million tons). The grain exchange in Buenos Aires had forecast 12.4 million tons last week, the USDA on Wednesday in the November WASDE still 15.5 million tons. Last week's weak export sales also disappointed on the CBoT. At 322,500 tons, the lower value of the already pessimistic estimates was hit.In the entire marketing year, US exporters were able to sell 42.5 percent less wheat abroad than in the last marketing year. This morning the signs are green again for wheat at the eCBoT.
Source
VR AGRICULTURAL
