Yesterday, too, the signs on both exchanges were red. In Paris, the most traded March contract lost 2.75 euros and closed at 301.25 euros/t, the follow-up contracts are already listed below the mark of 300 euros per ton. The CBoT also went south. The lowest level for 13 months was reached here. The competition from Russia in particular is depressing the mood of market participants on both sides of the Atlantic. The Russian Association of Grain Exporters expects exports of 4.5 million tons in December, which would be 1.2 million tons more than in the previous year. According to their information, exports should be 26 million tons for the entire first half of 2022/23, compared to 23.6 million tons last year for the same period. On the other hand, the reported US wheat exports provided some support on the CBoT. The USDA corrected the previous export inspections to 10.05 million tons by the end of October and thus only around 150,000 tons less than at the end of October 2021. The EU export figures, on the other hand, have again increased significantly. By December 4, 14.49 million tons of common wheat had been exported, up 500,000 tons from the same period last year, according to the commission.Pre-market this morning, there is still no clear direction on the eCBoT.
Source
VR AGRICULTURAL
