Between the holidays, wheat prices rose in Paris and Chicago. However, at the start of the year yesterday, Matif wheat was largely unchanged. The March date closed as on 12/30. at 309.25 euros/t. Both between the holidays and on the first trading day of the new year, there were only a few turnovers on the Matif. Wheat prices were recently driven primarily by the severe cold snap in the USA. Due to the very low temperatures and the snowstorms, experts fear that the US winter wheat stocks will die out above average. These were in poor condition anyway, since they had too little precipitation in autumn. According to official ministry data, Ukraine exported 22.6 million tons of grain in the first half of the current season, of which 8.4 million tons were wheat. For wheat, this is a decline of 47 percent compared to the same time last year. Barley was exported 68.8 percent less. At the beginning of this week, the Argentine grain exchange in Buenos Aires once again cut its wheat harvest forecast for 2022/23. Only 12.4 million tons are now expected, compared to 20.5 million tons last year.In Russia, the analysis company Sovecon increased its own forecast for Russian wheat exports by 200,000 tons to 44.1 million tons.
Source
VR AGRICULTURAL
