05.
07.23
08:45

DBV expects a grain harvest of 40.9 million tons

The trading tables at the CBoT were at a standstill yesterday. The Chicago Stock Exchange will remain closed for Independence Day and will resume trading today for day trading. On the Euronext/Matif, the leading September contract went slightly north. This date increased by 1.75 euros/t to 228 euros/t. However, a uniform development across all dates could not be discerned. In the last full week of the past 2022/23 marketing year, around 200,000 tonnes of common wheat were shipped to third countries by EU exporters. The weekly quantities have recently decreased somewhat, the main reason for this being the price competition from Russia. A total of 31.1 million tons of soft wheat were sold in the now completed financial year, around 12 percent more than in the previous financial year. The main customer was Morocco. The previous main customer, Algeria, has ordered fewer quantities in Europe and has significantly increased deliveries from Russia. According to preliminary data, Russia was able to increase its sales volumes to Algeria almost sixfold. The German farmers' band estimates this year's grain harvest at 40.9 million tons.The association is thus below the forecasts of the DRV or the EU Commission and justifies this with the persistent drought in May and June. The recent rains came too late for cereals, but potatoes and corn could benefit from them very significantly in some cases.

Source
VR AGRICULTURAL
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