After the losses on Friday, the wheat futures on the Euronext/Matif in Paris were able to say goodbye to trading yesterday with a green sign. The front month of March rose by EUR 1.50 to EUR 287.50/t. As a result of last week's recovery, spot market prices for bread wheat and fodder wheat have recently increased again. Prompt deliveries in Hamburg are currently quoted at 308 euros/t. The demand from the mills and feed mixers is still limited to short-term deliveries, later contracts are only very occasionally concluded. Market traders worldwide continue to focus on concerns about a further escalation in the Ukraine conflict. The Association of the Ukrainian Grain Industry ("Ukrainian Agribusiness Club" lowered its prospects for grain production there at the beginning of the week. The association assumes a wheat harvest of 12 to 15 million tons. The USDA had assumed 21.5 million tons in its most recent WASDE In Russia, wheat export prices are falling again, according to the analysts at ICAR, lots from the Black Sea port are being offered at $304/tonne, which is $2 cheaper than a week ago.In addition to the reports from the Ukraine, market participants also focused on the prospect of a new cold snap in the main growing areas in the Midwest.
Source
VR AGRICULTURAL
