Wheat started the new trading week with strong gains. The December date closed at EUR 352.25 and the other dates in this financial year also climbed above the EUR 350/t mark. The CBoT also went up very significantly. Responsible for this is the announcement on Saturday that Russia is terminating the grain agreement on safe transport across the Black Sea. Ethical freighters set sail yesterday and mainly shipped wheat, soybeans and peas, but this hustle and bustle could soon come to an end. President Erdogan said yesterday that the transports could continue without Russia's involvement. however, the prospects remain uncertain. Support for prices also came from across the Atlantic. According to the Crop Report, the winter wheat areas in the USA are not in good condition. Only 28 percent of the fields are rated as good to very good. That is 22 percentage points less than the average of the last five years. Wheat contracts are up slightly premarket today in Chicago.
Source
VR AGRICULTURAL
