Wheat and corn prices on Euronext/Matif slipped lower on Friday following the announcement of an agreement on Ukraine's grain exports on Thursday. At the end of the trading day, a loss of 25 euros per ton was on the display board for the front month of September. Prices on the CBoT had already fallen sharply on Thursday and also suffered losses of up to 48 US cents/bu on Friday. The September date in Chicago closed at 759.00 US cents/bu (273.10 euros/t), well below the level of the last few weeks. Today, weizen again starts on the ecBoT pre-market with a green sign. The shelling of the port in Odessa creates confusion and uncertainty. In the agreement, Odessa is the most important port through which grain exports are to be processed. Little has changed in the concerns about the German wheat harvest, in France the wheat harvest is well advanced, 34 percent was harvested in the past week alone, a total of 84 percent has now been brought in. After the IGC, Canada also increased its forecast for its own production. The country expects a wheat harvest of 33.7 million tons. This is a significant increase compared to the previous year, when only 21.7 million tons were harvested due to weather conditions.
Source
VR AgrarBeratung AG
