Wheat in the front month of March 23 on the Paris Euronext/Matif fell back to 300 euros on the last trading day of the week. The follow-up contracts also had red signs on Friday. With the start of trading on Monday, there are still no clear directions for today's trading, at least in Paris. Trade was recently shaped by news from overseas. It is becoming apparent that the previously estimated harvest volume of 42 million tons could be exceeded. In India, farmers have reportedly increased their wheat sowing this year after last year's severe drought. The areas are said to have grown by up to one percent and amount to 33.2 million hectares. Wheat prices also went south on the CBoT. The weak export figures in particular depressed the mood of market participants. In the last week of 2022, only 47,000 tons of third-country wheat were purchased in the United States. This is the lowest value in the previous financial year. At 81,500 tons, the actual loads are also well below market expectations. However, the CBoT is back in the black before trading today.
Source
VR AGRICULTURAL
