Russia expects more wheat

The penultimate trading day in July ended in the red on Euronext. The leading September recorded a loss of EUR 3.75/ton to EUR 247.75/ton. Even the most recent corrections to the EU harvest from the forecast service Mars could not stop the losses. In the USA, the indicator boards were also red before the weekend. The September contract slipped into the red at $8.5 US cents/bushel and thus costs the equivalent of EUR 186.21 per ton. The contracts have given up most of the week's gains. In the Ukraine, export shipments at the Danube ports are proceeding without any major problems and thus created pressure to sell on the stock exchanges. The wheat harvest is also in full swing. The local Ministry of Agriculture announced that around 8.06 million tons could be threshed. The yield per hectare is 4.4 tons. The harvest is also progressing in Russia. Sovecon analysts have raised their expectations by 0.3 million tons to 87.1 million tons due to better yields and a larger acreage.

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