13.
06.22
09:23

No course fireworks after publication of the WASDE report

Wheat contracts ended trading in Paris with solid gains. For December, the busiest month, it went around EUR 4.75 per tonne northwards to EUR 385.50 per tonne. The latest news from Paris provided fodder for the bulls. The condition of the wheat stocks has once again deteriorated significantly, so that only just under 66% of the areas are in good condition. Above all, the persistent lack of precipitation endangers optimal growth. After the publication of the WASDE report, wheat prices on the CBoT hardly moved. The US ending stocks were updated unchanged at 665 million bushels. A slight increase to 627 million bushels (+8 million bushels) is expected for the next season. Meanwhile, agricultural goods are to be exported from Ukraine by road through Poland and Romania in the coming months.

Source
VR Agrarberatung
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