After the significant price increases over the course of the week, the contracts on the Euronext/Matif and on the CBoT went south at the weekend. The relatively slight price decline is mainly due to a correction and profit-taking. Fundamental reasons also led to the setback on Friday. As previously reported, the IGC raised its global wheat forecast on Thursday. In particular, the strong Russian harvest has caused the increase in production compared to the previous forecast. Also, slight positive signals came from Russia that there could be a future for the grain export deal. In Ukraine, the analysis company APK-Inform revised its forecast for grain production there this calendar year upwards. A harvest of 19 million tons of wheat and 5.5 million tons of barley is expected. Pre-market, the eCBoT is again showing negative signs today. of up to 1.6%.
Source
VR AgrarBeratung AG
