The signs for wheat remained red on Thursday as well. For the front month of May it went south by 3 euros to 245 euros. In France, where many stocks have recently lacked rainfall, the situation has eased significantly in recent days. Precipitation has also fallen in many parts of the Federal Republic, which has already put pressure on wheat prices in the last few days. In France, reports are also currently showing that producers are more willing to sell, which is also responsible for the negative signs. However, due to falling prices, exporters are hoping for stronger demand again. It became known that Turkey and Jordan are active on the world market this week with major tenders. However, the significantly lower grain prices in Russia continue to create competitive pressure. Farmers in Russia itself often have problems selling their stocks at a profit because of the bountiful harvest. Domestic prices are well below the level of the previous year. That is why the government is apparently now planning to buy up to 10 million tons for the state reserve on the market. The CBoT did not show a completely uniform picture in the course of trading and at the closing bell.However, the front dates gave way. With just 125,000 export tons sold, US wheat was in little demand and also failed to meet even the most pessimistic export sales expectations. Pre-market, however, wheat on the CBoT started the last trading day of this week with a uniform green sign.
Source
VR AGRICULTURAL
