After the break in trading, wheat contracts on Euronext started with losses. For the most traded May date, it fell by 1.50 euros/ton to 399.50 euros/ton. In the EU, export business has recently lost momentum. Around 150,000 tons of wheat were exported last week. The transactions thus reach a total volume of 21.25 million tons. In the previous year, the amount was still 22.08 million tons. This corresponds to a decline of 4.6%. Barley exports have reached 6.35 million tons this season, also below last year's level of 6.55 million tons. Futures in Chicago also went south. The front month recorded the strongest daily loss at $21.50 US cents/bushel and thus costs the equivalent of EUR 373.41 per ton. Trading was characterized above all by profit-taking and technical sales. In addition, the strong dollar is currently burdening export trade with agricultural goods. In India, an increasing wheat export business is expected for the coming 22/23 season. Exports of 10 to 15 million tons are expected, which would correspond to a new record. Only around 2.56 million tons were exported last season.
Source
VR Agrarberatung