Wheat contracts on the Matif gave back part of the previous day's gains yesterday. Profit-taking was one of the triggers here. Things have calmed down again on the local cash markets. While the willingness to sell was a little higher last week, the producers are hesitant with their offers due to the price rally at the beginning of the week. Tunisia receives a EUR 150 million loan from the European Bank for Reconstruction to import grain and reform its own grain sector. The wheat rally continued yesterday on the CBoT and there are also green signs before the trading day. Market participants are bullish for today's US export sales report. Heavy rain showers are reported for the weekend on the southern Great Plains. This is likely to further delay harvesting work.
Source
VR AgrarBeratung AG
