The increase from Wednesday could not be maintained at Euronext/Matif. The March contract went south by EUR 4 to EUR 284.75/t. The cash market prices in Germany are also impressed by the downward trend on the Paris stock exchange. Compared to the previous week, the prices for bread wheat in Hamburg or on the Upper Rhine have fallen by 5 euros. Feed wheat and feed gesture lose the same amount compared to the previous week. The better weather forecast in the Great Plains caused selling pressure on both exchanges. The precipitation situation has improved and more rain showers are expected over the weekend, which should benefit the dry areas of the Midwest. The People's Republic of China is showing renewed interest in wheat. Around December, around 1.1 million tons of wheat were imported by the Middle Kingdom, around 15 percent more than in December 2021. According to the figures, China bought a new record quantity of 10 million tons on the world market in 2022. The grain exchange in Buenos Aires expects Argentine exports to fall significantly this season. The reason is the bad wheat harvest. The export volume should therefore be around 60 percent lower than in the previous year.Pre-market, the eCBoT is showing repeated signs of red today.
Source
VR AGRICULTURAL
