In Paris, wheat futures managed to stay in the black after a volatile trading session. The front month turns around shortly before the market closes and a loss of 1.75 euros/ton to 361.75 euros/ton is recorded. In France, around 92% of the stocks are in good to very good condition, raising hopes of a productive season. In Chicago, contracts went consistently south. Above all, the advancing peace negotiations in Ukraine ensured the leadership of the bears. Meanwhile, many market participants expect long-term consequences for global wheat exports. Hardly any grain from Ukraine or Russia is expected in the next few months. Large importing countries also announced that they were still well supplied with wheat. In Argentina, restrictions on wheat exports have been raised to 10 million tons to counter high grain prices.
Source
VR Agrarberatung
