The wheat prices on the Euronext/Matif showed a slight green sign yesterday. The December contract rose by EUR 1.25 to EUR 336.00 per ton. On the local cash markets, sales are still low. Sellers are hoping for better price levels, while the reverse on the Matif over the past few days has buyers speculating on falling prices. Winter wheat sowing is stagnating in Ukraine. The renewed hostilities make it even more difficult. In Russia, the sowing of winter wheat is also progressing very slowly due to bad weather. The analysis company SOVECON even anticipates that the area under cultivation could decrease from up to 19.5 million to 18.8 million hectares. On the CBoT, wheat went south differently than on the Matif yesterday. Weak export prospects and the prospect of a continuation of the Ukrainian grain corridor pushed prices down. The difficult growing conditions for Argentinian farmers and the dry conditions in the Great Plains did not help to move prices in a different direction. In Australia, meanwhile, it is too wet, and the risk of quality gradations in the stocks has increased significantly.
Source
VR AGRAR
