Moderate losses in wheat

The CBoT showed mixed signs yesterday with moderate price changes compared to Monday. Today the contracts in Chicago started with slight price gains. Bullish and bearish news are currently balanced. While the summer wheat stocks, as reported yesterday, have been downgraded, the US winter wheat harvest is faltering. At 9 percent, the spring wheat harvest is also well below last year's figure. The Russian statistical authority published the official figures on wheat acreage yesterday. According to this, wheat was sown on an area of 16.7 million hectares, which corresponds to an increase of 1.1 million hectares compared to the previous season. Wheat fell slightly on the Matif. In the season so far, the EU countries have already exported 2.5 million tons of wheat to third countries. That is significantly more than at the same time last year. Nevertheless, the actual export volumes are likely to be even higher, as there is no data from France. In Hesse, the State Farmers' Association reports very heterogeneous wheat yields. The quantities are between 7.5 and 9 t/ha. However, the producers in Hesse are disappointed with the protein content.The required 11.5% of the mills are often significantly undercut.