24.
08.23
10:59

Russia attacks Ukrainian grain infrastructure again

Wheat on both sides of the Atlantic headed north yesterday. On the Euronext/Matif in Paris, the most traded December contract closed yesterday after Tuesday's losses with an increase of 3.25 euros/t at 243.50 euros/t. In Chicago, the December contract went up by 12.25 US cents/bu to 639.75 US cents, which means that the December contract in Chicago is quoted at the equivalent of 216.39 euros/t. In northern Germany in particular, farmers are still busy with the final harvest work. It is reported from Saxony-Anhalt that the harvest is over and that the qualities are mostly still determining, but the proportion of feed wheat is said to be around one third. In Lower Saxony mostly only quality forage is fetched from the fields. Free quantities are currently increasingly available, but brisk trade does not take place due to the reluctance of the mills to buy and the fact that many compound feed plants only purchase as needed. Russian attacks on farms and Ukraine are primarily responsible for the stock market jump. A grain silo in the port of Ismail on the Danube was also hit, destroying at least 13,000 tons of wheat.According to the government, at least 270,000 tons of grain have been destroyed by attacks on agricultural objects since the end of the grain agreement. According to initial reports, Egypt has bought larger quantities of wheat in Romania, which also provided support as European suppliers were able to prevail against Russia again. Both the Matif and the CBoT show somewhat weaker tendencies with the start of trading.

Source
VR AGRICULTURAL
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