Wheat did not find a footing yesterday either and fell again significantly. On the Euronext/Matif, the March contract went south by EUR 4 to EUR 299.00 per tonne. The continuing good export figures from the European Union hardly helped the wheat prices. Europe's exporters have hopes in a tender for 100,000 tons of wheat and 75,000 tons of barley, which Tunisia is currently looking for in a tender. The Philippines are active on the market with a tender for 110,000 tons of feed wheat. On the CBoT, wheat went down very significantly. The front month lost 30 US cents/bu yesterday and closed at 745.50 US cents/bu (equivalent to 258.13 euros/t). Significantly falling energy prices, especially crude oil, weighed on the commodity markets. In addition, just like on the Matif, the plentiful Russian supply is causing selling pressure and technical selling also caused wheat prices in Chicago and Kansas to fall. The USDA has issued an assessment of wheat stocks for the first time since November. Accordingly, 19 percent of the holdings are in good or very good condition. In November it was still 21 percent.
Source
VR AGRICULTURAL
