Wheat futures rose in Paris on Friday. The front month rose by 1.25 euros/t to 325.75 euros/t. Dates for the next harvest, on the other hand, are shown in red. There is speculation that China apparently wants to buy larger quantities of grain in Europe. According to agency information, wheat export prices in Russia have fallen further. These are currently trading at around $317/ton and are therefore cheaper than EU wheat and especially compared to the US Gulf Coast prices. In addition, Russian exports appear to be gaining momentum. Above all, Egypt seems to be helping itself with direct sales from the lush Russian harvest. That is why the CBoT showed red signs. US export prices are currently not very competitive, also because of the strength of the dollar. The extension of the grain agreement is also putting pressure on prices. Friday's losses will be recouped pre-market today. The wheat contracts of the eCBoT are increasing again.
Source
VR AGRICULTURAL
