The downward trend continues. On the Euronext/Matif, the May date went south yesterday with a daily loss of EUR 3.25 to EUR 263.50/tonne. The general mood on the general commodity and, to some extent, also on the financial markets is putting pressure on prices. In addition, the market continues to expect an extension of the grain agreement for Ukraine. There were no new signals from Kiev, Moscow or Ankara yesterday. However, it was announced that talks between representatives of the UN and Russia will take place in Geneva next Monday. UN Secretary-General Guterres yesterday again called on the warring parties to agree on the extension. Against the background of the downward trend, fodder plants in Germany continue to act cautiously and only buy short-term requirements, although the willingness of farmers to sell seems to have increased again. On the CBoT, wheat contracts fell to an 18-month low yesterday. Here, too, the same issues are affecting the course of trade as in Europe. However, a slightly stronger dollar and weak export bookings are an additional burden here. As the USDA announced yesterday, 266.000 tons of wheat booked for export, which is again less than in the previous week. Export bookings were also disappointing at the time.
Source
VR AGRICULTURAL
