13.
11.23
09:05

Wheat: Losses continued

Wheat also went south at the end of the week. The front month of December on Euronext/Matif lost 1 euro per ton and closed the last trading day of the week at 232.25 euros/t. From a weekly perspective, there is a minus of 1.25 euros/t on the dealer list in the front month. The CBoT also went down. The December contract in Chicago closed down 5.50 US cents at 575.25 US cents/bu (197.70 euros/t). The bearish signals from WASDE on Thursday continued to have an impact. In particular, the fact that the USDA had raised its forecast for Russia caused sell signals. The downwardly revised expectations for the beginning of the Argentine harvest did little to change this. According to reports from Russia, exports are going a little faster again. According to the Ukrainian government, the fact that Russia hit a private freighter with a missile last week does not change the country's ongoing exports. These continue to run, including across the Black Sea. However, it is also reported that freight rates from the Ukrainian port have recently increased. The Canadian Grain Commission delivered positive export figures on Friday. Accordingly, there are 5.51 million in the current season.Tons of wheat were sold and delivered abroad, around 7.7 percent more than last year. In the USA and Europe, however, there are weaker export figures. The price decline on the Matif was slowed by the very hesitant sowing of winter wheat in France. Further low pressure influences with a lot of rain have been announced, so that the field work will drag on even further. Before the trading session, the contracts in Chicago are once again showing red signs.

Source
VR AGRICULTURE
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