Ukraine exports at pre-war levels

Wheat on Euronext/Matif remains true to its downward trend. The quotations on the Paris stock exchange fell across all dates yesterday. The most traded March date lost 2.00 euros to a price of 209.00 euros/t. Prices on the cash markets were also under pressure yesterday and fell by an average of 2 euros per tonne at the wholesale level. On the Upper Rhine, bread wheat is currently priced at 202 euros/t, in Hamburg it is 218 euros/t. Farmers everywhere in Germany are hardly willing to sell. Mills and feed mills have also recently reduced their demands somewhat. Deliveries in April, May and June are still being discussed. According to Russian information, the date published yesterday for a meeting between Putin and Erdogan has been postponed to April. Content should include, among other things, a revival of the grain corridor. Whether Ukraine actually needs this is questionable, corrected government figures for January show that 6.3 million tons of agricultural goods were loaded in that month alone, reaching pre-war levels. Jordan is currently active on the market with a tender for 120,000 tons of wheat. Due to technical problems, the EU Commission has not yet published updated export figures and is planning them for tomorrow, Friday. Wheat prices rose yesterday on the CBoT. Positioning in the run-up to today's WASDE is given as reasons. Traders are increasingly closing out their short positions. Meanwhile, the condition of winter wheat stocks in the important growing state of Texas has continued to improve. 46 percent are seen in good or very good condition; most recently it was only 42 percent.

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