06.
07.23
09:27

Russia's wheat export prices are increasing noticeably

On the Matif, wheat prices increased noticeably yesterday. The September date climbed by EUR 5.25 to a closing price of EUR 233.25/t. Rising export prices in Russia provided momentum. As Sovecon announced, Russian wheat is currently being offered at 231.50 US dollars/t, which is around 8 dollars more than in the previous week. According to research by Sovecon, export prices have recently increased in Europe as well. Dealers are also increasingly focusing on condition assessments in the USA. As the USDA announced in the crop report on Monday, the wheat harvest is now 37 percent complete, compared to just over 50 percent of the area that had been harvested at the beginning of July last year. Persistent rainfall in the Midwest, while still benefiting corn and spring wheat, is severely hampering the winter wheat harvest. The quality of spring wheat stocks was downgraded to the surprise of market participants. 48 percent of these stocks are in good or very good condition; last year, 66 percent of spring wheat stocks were assessed in this category. Because of the hesitant harvest in the USA and the seasonally low stocks in the northern hemisphere, the supply situation is viewed more critically.Pre-market in Chicago today, however, red signs are already appearing again in wheat trading.

Source
VR AGRICULTURAL
Rückrufservice
Please describe your request so that we can prepare for the callback.
Yes, I have read the Privacy Policy note and I consent that the data provided by me, including the contact data, for the processing of the inquiry and in case of questions are electronically collected and stored. My data will only be used strictly for my request and will not be passed without my consent. This consent can be revoked any time with effect for the future.'
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Register now

Jetzt registrieren und ZMP Live+ 14 Tage kostenlos testen!
  • Dauerhaft kostenfrei
  • Keine Zahlungsinformationen erforderlich