The bears held the lead in trading yesterday and caused losses across the board. In Chicago, the wheat price reached its lowest level since the end of 2021. On this side of the Pacific, too, the contracts were unable to recover and slipped further into the red zone. The July date recorded the highest daily loss of 2.75 euros/ton to 279.25 euros/ton. In the USA, local farmers are somewhat relieved. The weather improved slightly, putting even more pressure on the courses. Above all, the falling grain prices are currently causing countries from the East to stock up on goods. In this context, Turkey bought around 790,000 tons of wheat from Russia and Ukraine. In Ukraine, traders continue to look forward to the grain agreement that is about to expire. According to market participants, there have been no new findings so far. The report came from Algeria that the government is planning to double grain cultivation. For this purpose, the yields as well as the areas are to be increased.
