The main price drivers remain the uncertainties surrounding Ukraine's Black Sea exports. That is why the prices for the wheat contracts on Matif and CBoT increased yesterday across all dates. In Paris, prices went north by EUR 1.00 to EUR 337.25/t in December. According to official information, the Secretary General of the UN telephoned President Putin and expressed his confidence that the export deal could go ahead. In France, the Ministry of Agriculture expects wheat exports to be somewhat lower than before. Nevertheless, the country's export potential is estimated at 10 million tons, which would be an increase of 14% compared to the previous financial year. Significantly more wheat is expected in Canada. In the previous year, a severe heat wave had damaged the stocks. According to the statistics authority, 34.7 million tons of wheat should now come together. In the previous year it was only 22.3 million tons. Pre-market, the wheat prices in Chicago show a slight green sign today.
Source
VR AgrarBeratung AG
