Wheat prices in Paris and Chicago lost some of their value again at the weekend. The front month of March 23 slipped into the red by EUR 2.75 to EUR 286.00. Despite the setback, wheat has increased slightly on a weekly basis. According to the consulting service Sovecon, Russian exports continue to be very dynamic. The winter wheat fields in Russia are also in good condition. The Ministry of Agriculture in Moscow recently reported that 94 percent are in good or satisfactory condition, in the southern growing areas it is even said to be 98 percent. The Ukrainian farmers are also satisfied with the state of the winter wheat crops. However, the susceptibility to cold snaps is greater here. Chicago was also heading south on Friday after last week's wheat rally. Even an announced cold spell for the Midwest did not help the contracts to increase on the day. For Australia, the US Department of Agriculture expects wheat production there to reach 37 million tons, which would be another record for the country. Pre-market signs are green again on the eCBoT today.
Source
VR AGRICULTURAL
