The news that the first ship left Ukraine yesterday morning put wheat prices and prices under pressure. The most traded December date on the Euronext/Matif fell by EUR 6.25/t and closed at EUR 325.50/t. A similar picture emerges from the CBoT, with price losses occurring here as well. Pre-market price declines of up to 1.80% compared to the previous day's closing price are also evident. Algeria is looking for 500,000 tons of wheat with a tender. Most recently, the country had actually bought more wheat than was previously advertised. The US winter wheat harvest has stalled a bit. Currently 82 percent are retracted. In the crop report, the USDA also raised the condition ratings for spring wheat crops by 2%. 70 percent are therefore in the category good to very good.
Source
VR AgrarBeratung AG
