Wheat contracts on Euronext/Matif closed largely unchanged. At the end of yesterday's trading day, the front month of December was down EUR 0.50 per tonne. The fact that Russia has relented and continues to enable Ukrainian sea transport continues to ease the tension, but the grain agreement as a whole is on shaky ground. UN Secretary-General Guterres yesterday called on Russia and Ukraine not only to implement the agreement, but also to extend it. The global supply situation is therefore still assessed as critical. On the CBoT, the courses changed the color of their signs several times yesterday. In the end, losses of 5.50 US cents/bu were on the trading list in the front month of December. The fact that the Argentinian grain exchange once again lowered its wheat forecast yesterday by 1.2 million tons to 14 million tons due to the severe drought provides support, but the US dollar, which has become significantly stronger again, means that the export prospects are clouded further. Yesterday's export sales brought no major surprises, with the week ending October 27 reporting export sales of 348,100 tonnes, in line with analysts' expectations.Pre-market on Friday, wheat contracts on the eCboT are showing gains that make up for yesterday's minus.
Source
VR AGRICULTURAL
