The uncertain future for exports of Ukrainian agricultural goods caused prices on Euronext/Matif to rise again yesterday. The leading December contract rose to EUR 357.75/t, closing EUR 5.50 higher than on Monday. Slight hopes are burgeoning, but are not yet causing a trend reversal. According to official data, the presidents of Turkey and Russia spoke on the phone yesterday about the future of grain transport. According to the UN, ships that were already on their way to Ukraine's three Black Sea ports before the cancellation by Russia are still being handled. Prices for wheat, barley and triticale are also rising on the local cash markets. Due to the public holiday in some federal states yesterday, however, there are currently not necessarily increased sales. According to dealer circles, farmers are still only very limited in their willingness to offer goods. In addition to the end of grain exports across the Black Sea, poor assessments of the status of winter wheat crops in the US provided price support. However, there were slight price setbacks on the eCBoT in Chicago before the trading day.
Source
VR AGRICULTURAL
