Russia's wheat export prices continue to fall

Wheat got off to a strong start into the new week yesterday. The December contract in Paris gained a significant EUR 10.50 per ton and wheat prices also rose on the CBoT. The CBoT contract for December closed yesterday at the equivalent of 309.92 euros/t. Responsible for this are on the one hand technical sales and strong specifications from the corn market. The Canadian statistical authority estimates this year's harvest at 34.6 million tons. This means that the harvest is twice as large as in the previous year, when the country was hit by a severe heat wave. From Russia, the analyst firm ICAR reports that Russian wheat prices have fallen further due to harvest pressure. Wheat with 12.5% protein is quoted at $315 per ton. At 520,791 t, US export shipments were significantly lower than the shipments for the week. Compared to the previous week, the Americans exported 1.8 million tons less. The EU countries have until 29.08. 4.862 million tons exported to third countries.