DBV expects 21.8 million tons of wheat

Wheat prices have continued to recover and are now quoted in Paris above last week's level on Tuesday. The most traded December date climbs to 326.00 euros/t. The German Farmers' Association took stock of the harvest yesterday. According to the association's provisional figures, the total grain harvest should amount to around 43 million tons, which is almost 2 percent more than last year. The winter wheat harvest is estimated at 21.8 million t with a hectare yield of 7.5 t/ha, which is an additional quantity of around 800,000 tons compared to corresponds to the previous year. According to unofficial data, Egypt yesterday booked 240,000 tons of wheat without a tender in Russia. Accordingly, Russian exports reached a volume of around 5.9 million tons. That is around 27% less than in the previous year. Canada has revised its forecast for the current crop upwards. The amount of wheat increases by 786,000 tons to 34.5 million tons. The Ukrainian industry association, on the other hand, has again corrected its own wheat forecast by a significant 8.7 percent and expects 10 million tons. There are positive tendencies again today before the trading day.