Wheat contracts closed yesterday's trading day in Paris with a red sign. At the end of the day, the front month showed a minus of 1.50 euros/t and a closing price of 264.50 euros/t. However, the daily low in the contract was even lower at 260.75 euros/t. On the CBoT, on the other hand, wheat prices were able to close Tuesday with profits with the beginning of day trading. Europe's exporters are increasingly worried. The exchange rate developments in the Russian ruble and the Ukrainian hryvnia make offers from the Black Sea region cheaper. In addition, Russia's agricultural authority has lowered export tariffs with effect from today, Wednesday, albeit not as much as in previous weeks. On the cash markets in Germany, short-term demand transactions are predominantly carried out. The spot market listings developed somewhat weaker at the beginning of the week. At the CBoT, traders are basing their pricing on the Midwest drought. In Texas in particular, stocks are in poor condition. Chicago wheat contracts are trading at losses premarket this morning.
Source
VR AgrarBeratung AG
