EU Commission raises wheat forecast

After the losses on Wednesday, selling pressure was also evident on the Euronext/Matif yesterday. The grain markets as a whole remain volatile. In its August assessment, the EU Commission increased soft wheat production for the current season to 126 million tons. So far, 123.9 million tons had been expected. Exports are said to remain at 36 million tons. The rural people of Lower Saxony report an average wheat harvest of 8.5 t/ha, which means that the state has the highest yields per hectare after Schleswig-Holstein and North Rhine-Westphalia. According to market observers, the Egyptian grain company's tender has yielded no results. All offers were felt to be too high. The CBoT also went down yesterday. The USDA's export reports were delayed due to a technical glitch. Many market participants therefore have doubts as to whether the export volumes are actually correct. Pre-market, no uniform trend can be determined on the eCBoT for wheat contracts at the moment.