Wheat contracts closed trading on the Matif yesterday with strong gains. The May date increased by 19.75 euros/tonne to 399.25 euros/tonne and thus only just missed the 400 euro mark. In the US, futures continued to rise undeterred. The front month closed at $1103.75 US cents/bushel and thus costs the equivalent of 374.03 euros/ton. Above all, the latest news from Ukraine that there were serious clashes between the armed forces gave the bulls fodder and created a buying mood. In addition, stocks in the USA have still not recovered and are therefore also supporting prices. In the course of the day, the results of the tender from Egypt are expected.
Source
VR Agrarberatung