Matif wheat remains under selling pressure. Yesterday too the signs were red. The most traded May contract closed at a price of 197.25 euros/t and thus with a daily loss of 3.50 euros per ton. The subsequent contracts went somewhat less southwards. There was also relatively high volatility on yesterday's trading day. The May contract was traded in a range of EUR 196.00 and EUR 199.50/t. Stocks from the last harvest are increasingly being offered by farmers. Feed wheat in particular is increasingly being offered. Demand from the compound feed industry is generally rather subdued, although there are regional differences. Feed barley can still be sold for export here and there. After a friendly start to the week, wheat on the CBoT also suffered losses from Wednesday's trading session. The prices here are burdened by better stock assessments for Texas and Kansas, among others. Because of good moisture levels in the soil, farmers are optimistic about the quality yield of the coming crop. The weather forecasts for the US growing regions are somewhat divided, but overall they should help the development of the plants. Temperatures in the western half are expected to be slightly above average, and heavy amounts of precipitation are forecast everywhere. For today's release of last week's export sales, analysts expect a range between 200,000 and 500,000 tons. Wheat is picking up again in Chicago today before the market.
Source
VR AGRICULTURE
