Late tillage in China, drought in the US

On the two important exchanges for wheat in Paris and Chicago things went up again on Friday. CBoT wheat once again reached the daily trading limit and closed the front month of May at the equivalent of EUR 405.65/t. Wheat in Paris reached the EUR 400 mark for the first time ever, but profit-taking meant that the plus was significantly lower at the end of the trading day. In addition to the armed conflicts, other market news are also increasingly influencing trade. China reported that this year's own wheat production could be the weakest ever due to heavy rainfall. According to the USDA, it is still too dry in the Grait Plains. In Europe, there is strong demand for wheat from third countries. Worried about a food crisis, Hungary imposed an export ban on grain last week. Significantly higher prices are already being traded again this morning on the eCBoT.