Wheat prices ended Tuesday with gains on solid EU export numbers. The front month of March 2023 gained EUR 2.50 and closed the trading day at EUR 281.75 per ton. Positive guidelines from the CBoT are also supporting local wheat prices. Matif wheat thus costs about the same as it did in Ukraine shortly before the outbreak of war. Last week, EU exporters exported just over 242,392 tonnes of common wheat to third countries. Although the weekly export volume has fallen compared to the previous week, the lead over 2021/22 is still more than one million tons. The main part of the exports is due to France, Germany only exported a very small part in the last week. Things remain calm on the spot markets when short-term deliveries are agreed, forward sales have become rare. On the CBoT, wheat hit its lowest level in more than 16 months on Monday, but strengthened yesterday. Condition assessments in Texas have fallen significantly from the last assessment in November, but recent weather conditions should give plants overall support for their development.This morning's gains are also evident in premarket trading for Chicago wheat contracts.
Source
VR AGRICULTURAL
