The wheat markets continue to be turbulent. In Paris, the trading range between the high and low prices was between EUR 330.50 and EUR 371.25/t in May. On the CBoT, the front dates reached a new high with a daily plus of 75 US cents/bu and broke the price limit of $0.75 per day that had been set only yesterday. In many places in Germany, no reliable price determination can be found due to the volatility. Importers are increasingly looking for alternatives to Black Sea wheat, and Europe and Latin America in particular could benefit from this. The EU Commission is considering releasing fallow land for grain cultivation due to the current situation. This could increase the acreage by 10-15%
Source
VR AgrarBeratung AG
