The wheat futures on the Paris Futures Exchange will declare a price loss this year. The global supply of wheat is huge and Russia has become the strongest competitor for exports from the EU. A fixed exchange rate of the euro made exports significantly more difficult. The price of the front month has fallen by more than 5% since the beginning of the year. On December 30, 2016, he noted 168 € / ton. Currently, the front month is quoted at € 159 / tonne. In contrast, the price of CBoT wheat improved by a good 5% year-on-year. EU wheat finds it difficult to buy on the world market this season. Russia is already export champion wheat for the second season in a row. The euro exchange rate against the US dollar rose by 14% in 2017. This increases the price of wheat from the Eurozone. In addition, rain had hampered the harvesting work in Germany and Poland and deteriorated the qualities. Black Sea wheat currently undercuts all other surplus regions and is almost the sole supplier in Egypt, the largest wheat buyer in the world. France has so far been only four shipments in Egypt this season. EU wheat exports in 2017/18 are 25% lower than in 2016/17 at this date.By contrast, Russia is heading for another record result in wheat exports. France's exporters also have a hard time getting wheat from agriculture because prices are too low for farmers; they are hoping for better times. French wheat meets the highest quality standards this year, which is why the grain is not used as feed. Traders hope that the export at some point in the second half of the season starts.
