Wheat futures increased both in Germany and overseas. For the front month on the Euronext, it rose from EUR 7.75/ton to EUR 386.5/ton. On the CBoT, the leading contract traded $58 cents/bushel to $1154.25 cents/bushel. The war theme is omnipresent in the USA. In addition, the lack of rainfall is causing concerns among producers. If nothing changes in the drought, further yield losses are more than likely. It is reported from Ukraine that almost a third of the grain fields are no longer in their hands due to the current war situation. In addition, Russia is sticking to the export ban to the Eurasian Union. This is intended to prevent export transactions from going through third countries, thereby avoiding the Russian export tax. Meanwhile, several countries, including Turkey, Jordan and Japan, have tenders on the market.
Source
VR Agrarberatung
