On the Euronext, the September front date had to give way yesterday, all other dates went slightly with profits from trading with strong turnover. The news and sentiment on Ukraine's grain exports continues to be mixed and characterized by uncertainty. Recent shelling in the Odessa region on the one hand, and the start-up of the agreed coordination center in Istanbul on the other. Ukraine is willing to let the first merchant ships go to sea later this week. Egypt recently canceled a shipment of 240,000 tons of Ukrainian wheat. The quantity was already ordered in December 2021, but was never dispatched due to the outbreak of war. The heat wave in southern Europe has caused considerable damage. The Ministry of Agriculture in Spain reports a decline in the soft wheat harvest by more than a quarter compared to the previous year, while the durum wheat harvest is 12.2% below the previous year's result. The harvest in Germany continues. Yields of an average of 8 tons/ha are reported from the Baden region and 6 tons/ha in Reinhessen. Trade in the west and south-west is hampered by the low water level on the Rhine.Less transport capacity than usual is available for loading. After yesterday's losses, the CBoT is showing green signs again in premarket trading this morning.
Source
VR AgrarBeratung AG
