Contracts on Euronext/Matif went south yesterday. The front month of May lost EUR 1.25 and closed at EUR 254.00/t. With 68,524 traded contracts, the turnover on yesterday's trading day was quite extensive and higher than on the days before. The customs export statistics published yesterday show that 326,032 tonnes of common wheat were exported from the EU to third countries last week. The total counter for the current marketing year is 23.145 million tons, which is 1.63 million tons higher than at the same time in the previous marketing year. Compared to the previous week, slightly more wheat was loaded again. Very manageable sales are reported on the cash markets in Germany. The local markets have been characterized by little supply and very little demand all week. In the south, especially along the border with the Czech Republic, there are still offers from Eastern European countries that are well below the local prices. On the other side of the Atlantic, the losses for wheat were greater in some areas. Very weak demand is expected for today's export sales, despite the US dollar weakening again.In addition, there is the weather forecast for the coming days. Producers and traders are assuming that spring wheat sowing can now proceed more quickly and that winter wheat stocks should benefit from the slightly higher temperatures, although it remains too dry in many important growing regions.
Source
VR AGRICULTURAL
