After the losses of the past few days, wheat prices in Paris recovered and posted slight gains. The signs on the Chicago Stock Exchange were also green yesterday. The front month gained $7.75 US cents/bushel and thus costs the equivalent of 250.63 euros/ton. According to market observers, the main reason for the bullish impulses is the ongoing smoldering conflict between Russia and Ukraine. Despite the relaxation, an escalation cannot be ruled out. Gains were held back by recent weather forecasts. Heavy rainfall is expected to continue through the weekend, particularly in the Midwest. In Russia, 23.6 million tons of wheat were shipped up to last week. Compared to the previous year, this is 21% less. The traders blame the high export taxes in particular. Meanwhile, the analysts at Strategie Grains expect global production to rise to 762 million tons (+3%).
