Wheat prices on the Euronext/Matif index fell slightly on Friday, the December contract, which was still the leading price, lost EUR 1.50 to EUR 339.25/t. On the CBoT, on the other hand, wheat prices rose on Friday. However, Chicago contracts are in red premarket this morning. Higher wheat prices were seen on the cash markets in Germany on Friday. Bread wheat franko Hamburg is quoted at 368 euros/t for delivery in December, which is 28.75 euros higher than the current Matif quotation. The uncertain development about the future of the grain corridor in Ukraine is still an issue on the grain market. Russia has renewed its demand that the West relax its restrictions on Russian agricultural goods. In France, farmers are becoming increasingly concerned about the very mild temperatures there. The risk of sustained frost damage is increasing, and the warmest October in over 40 years means that winter wheat stocks are developing much faster. In Russia, the harvest continues to put pressure on the market, but export prices in Russia have recently risen again.According to the consulting firm IKAR, the back and forth in the grain corridor has brought the demand for Russian wheat to a complete standstill. Winter wheat sowing in Russia is still not complete. Rain had recently stopped them completely.
Source
VR AGRICULTURAL
