The wheat market turned red yesterday, Thursday, breaking the uptrend of the past few days. The most traded March date closed 3.25 euros/t lower at 319.00 euros/t. Already at the beginning of the week there were rumors that mills in Florida were in concrete talks with exporters in Europe about the delivery of wheat. The qualitatively unsatisfactory wheat harvest in the USA seems to make at least some US consumers squint at European goods. The EU Commission announced in its weekly export statistics that up to 20.11. 13.63 million tons of common wheat were exported to countries outside the EU. That is 630,000 tons more than on the same date last year. The CBoT went north again yesterday. The main reason for this is technical sales before today's holiday. In addition to the rumors that US mills want to buy from Europe, Brazilian mills are also showing interest in Russian wheat. Due to the threat of partial crop failure in Argentina, Brazil will have to look for new suppliers. The CBoT will be closed today as Americans celebrate Thanksgiving.
Source
VR AGRICULTURAL
