Wheat prices on the Euronext/Matif in Paris increased for the second trading day in a row. The March date closed at EUR 284.50/t, up EUR 2.75. On the spot markets, prices for feed wheat and feed barley have recently picked up again slightly. Trading activities remain low. In particular, the compound feed industry only asks for small quantities in order to react to the lower demand from animal owners. For Lower Saxony it is estimated that around a quarter to a third of last year's wheat harvest is still in the producers' warehouses. For the coming weeks, however, new inquiries are also expected from export and flour mills. The decision by the federal government and the US government to supply battle tanks to Ukraine provided a boost on both stock exchanges. Concerns about a new escalation or a premature end to the grain agreement have increased significantly again and are causing wheat prices to climb. In Russia, the Ministry of Agriculture estimates that 94 percent of winter wheat stocks are in good to fair condition. In order to limit record domestic wheat prices in India, the government there released state wheat reserves. The CBoT also went north.A pre-market trend is not yet discernible this morning.
Source
VR AGRICULTURAL
