ICAR also expects a larger wheat harvest in Russia

Bears prevailed in the wheat market yesterday as well. The front month of September on the Euronext/Matif closed down EUR 6.25 at EUR 230.25/t. Prices are also falling on the domestic cash markets. Bread wheat delivered to Hamburg (wholesale price) was reported yesterday at 248 euros/t, on Friday it was still 251 euros/t. Feed wheat prices also fell here by 3 euros/t at the beginning of the week and are now at 246 euros/t in Hamburg. In northern and western Germany, the final harvest work should be completed by next weekend. The hectoliter weights mostly satisfy the producers, but the qualities are definitely a problem. Relatively few goods are sold outside of existing contracts, and the concentrated feed industry in particular is currently showing restraint. On the export front in Europe, export volumes were lower in the first six weeks of the new financial year. Until August 6th 2.915 million tons of wheat were exported to third countries, compared to 3.48 million tons at the same time last year. Barley is also less in demand than in the previous year. For Russia, the consulting firm IKAR has lowered its forecast for this year's harvest, which is still in full swing, by 1.5 million tons to 89.5 million.tons increased. Ukraine is currently preparing a so-called humanitarian corridor to guide ships across the Black Sea under the supervision of the army. On the other side of the Atlantic, wheat was also under selling pressure yesterday. Last week's export shipments were disappointing. In addition, the winter wheat harvest is on target at 92 percent and the assessment of the condition of spring wheat has improved again. 42 percent are in good or very good condition (+ 1 percentage point compared to the previous week).

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