Wheat prices on the Euronext/Matif increased again on Friday, the December contract closed the trading week at EUR 348.00/t. Looking at the week as a whole, however, there is still a minus. Prices for bread wheat and fodder wheat also increased on the spot markets. B-wheat franko Hamburg is currently quoted at EUR 373.00 for delivery in December. According to the wishes of the United Nations, the future of the grain corridor is to be discussed in Moscow this week. As the future of the grain corridor remains shaky, a fifth World Food Program cargo ship carrying 30,000 tons of wheat has broken through from Ukraine to Ethiopia. Another strong wheat harvest is imminent Down Under. The Australian grain industry is anticipating a good harvest, which, however, is unlikely to quite match the record values from the previous year. Wheat prices also rose marginally in Chicago. However, the still very strong US dollar is clearly limiting the price development. Announced precipitation in the Great Plains, where it has recently been very dry, also limits the price potential. Pre-market this morning, however, the eCboT shows significant price gains for the grain.
Source
VR AGRAR
