The grain markets continued to be impressed by the WASDE report on Friday. On the Matif in Paris prices fell by 2.25 euros/t for the front month. The March date on the CBoT falls 5.25 US cents/bu. In addition to the higher acreage in the USA, rain and snowfall in the drought-plagued growing areas in the USA also weighed on price sentiment on the stock exchanges. Algeria, meanwhile, announced that the government will raise domestic purchase prices for wheat, barley and durum. The government hopes that this will encourage farmers to cultivate. Russia is lowering its export taxes this week. Instead of the previous US$ 98.20/t, $97.50/t are now due. Meanwhile, the Ministry of Agriculture in Kiev has issued declarations of intent not to restrict wheat exports in the coming year. The US stock exchanges are closed today because of Martin Luther King Day.
Source
VR AgrarBeratung AG
