21.
02.24
09:37

U-turn on wheat?

Wheat began the turnaround Thursday and gained noticeably. In Paris, the March date went north by 4.25 euros; the most traded May contract remains below the 200 euros/t mark at 199.25 euros/t, but was also up by a significant 4.50 euros/t. t increase. The EU Commission continues to point out technical problems in the export statistics. The data up to February 13 shows an export volume of 19.9 million tons so far, which is behind the export volumes of the previous year. Meanwhile, Polish farmers' protests against deliveries of Ukrainian grain to Europe continue. Farmers have once again blocked the country's borders and dumped Ukrainian wheat onto the border. The fear of further price declines in neighboring areas remains high. Fresh export rumors of European wheat from China provide support. Morocco also seems to have bought into Europe. However, these reports have not yet been officially confirmed. In the USA, wheat went strongly north. After the long weekend and the price decline of the last few weeks, bargain hunters are taking advantage of the opportunity to take long positions. Last week's export shipments were once again below those of the previous week and amounted to 380,780 tons. Compared to the previous year, export shipments are 17.5 percent lower. However, premarket contracts are unable to maintain the positive tailwind from this morning's presentation.

Source
VR Agriculture
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