Wheat prices fell significantly in yesterday's trading. The front month of December lost 6 euros per tonne, the most traded March date closed 4 euros lower at 315.00 euros. Overall, however, sales were relatively low yesterday. Compared to the other trading days of this week, only slightly more than half as many contracts were traded yesterday. There was a lack of specifications from overseas. The CBoT was closed for the Thanksgiving holiday. The weaker price developments on the Euronext/Matif are also affecting the cash markets in Germany. There is a lack of clear directions for both buyers and sellers. Buyers are increasingly waiting, producers are holding back their goods in speculation that wheat prices will pick up again. In southern Germany there are obviously more buyers from France who are looking for quality wheat. According to the United Nations, Ukraine's grain exports have recently stalled with the extension of the trade corridor last week.Due to the recent uncertain future of the agreement, cargo ships had not found their way to the Ukrainian ports, and the waiting times for inspections in Istanbul have recently increased due to poor weather conditions. The grain exchange in Buenos Aires once again reduced its wheat forecast to just 12.4 million tons. At the beginning of the season, a harvest of 20.5 million tons was expected.
Source
VR AGRICULTURAL
