While the Day of German Unity was celebrated in Germany yesterday, trading continued on the Paris Euronext/Matif. The level, which was still high on Friday, was left again, the front month of December lost 5.75 euros/t on the Matif and closed the first trading day of the new week at 351.00 euros/t. First and foremost, profit-taking is also evident, as wheat prices on both sides of the Atlantic had reached a three-month high. While the news situation in Europe is generally calm and the latest developments in Ukraine are particularly worrying, quarterly stocks were published in the USA on Friday and provided a boost just before the weekend. The USDA surprisingly corrected the US wheat harvest in its Small Grains Report downwards by 3.6 million tons to 44.9 million tons. US export shipments totaled 670,000 tons last week, up about 80,000 tons from the previous week. US winter wheat sowing has clearly gained momentum and, at 40 percent of the targeted area, is now at the same level as last year.
Source
VR AGRAR
