In Paris, the majority of wheat futures increased, but were very volatile overall yesterday. A price of 347 euros/t was traded at the peak for the September date, at the end of the trading day the front month closed 3 euros higher than the previous day at 340.00 euros/t. Wheat contracts also rose on the CBoT and are also showing firmer premarket this morning. Very heterogeneous results are reported for wheat from south-west Germany. Yields are between 5 and 10 tons per hectare, and the protein content also varies greatly. Producers mainly store grain, and there are hardly any sales outside of existing contracts. On the stock exchange, the heat wave in particular is moving the markets. Egypt has bought 640,000 tons of wheat from France and Russia, giving support to the contracts accordingly. A negotiation result on the sea exports of Ukraine is not known until now.
Source
VR AgrarBeratung AG
