Wheat prices recovered yesterday Tuesday. For the front month of May, the Paris stock exchange went north by EUR 2.25 to EUR 269.25/t. The follow-up contracts also increased accordingly. The EU Commission published the weekly export and import figures for agricultural goods yesterday. Accordingly, the weekly volume of soft wheat exports has decreased again. All in all, the export counter stood at 21.54 million tons up to the last week and was thus still above the level of the previous year. Support came on both exchanges, in Paris and in Chicago, also from repositioning after prices had recently fallen significantly. Wheat was also up on the CBoT. The most traded May date rose by 11.75 US cents to 696.25 US cents/bu (238.36 euros/t). New harvest dates are trading higher. They received support primarily from poor assessments of the condition of winter wheat crops in the USA. In the important growing states of Kansas and Texas, for example, only 17 percent of stocks are in good or very good condition. The stocks in Oklahoma were downgraded significantly, from 39 percent in the previous week, only 30 percent are currently seen in the top two categories.There has been a lack of sufficient rainfall in the USA in recent months. The pre-market trend on the eCBoT is up again.
Source
VR AGRICULTURAL
