02.
05.22
09:25

Wheat markets led by the bears

Wheat contracts in Paris ended trading ahead of the weekend with a red sign. The end of May posted 15.75 euros/ton to 400.75 euros/ton. The EU Commission expects wheat production in the coming 22/23 season to amount to 130.1 million tons, below the level of the previous forecast (-1.2 million tons). On the CBoT, the bears also took the lead and caused double-digit losses. Above all, the improved growth conditions due to the heavy rainfall in recent days triggered selling pressure. The hope of increasing yields is growing again among local producers. In addition, US wheat exports did not develop as dynamically and thus also weighed on the market.

Source
VR Agrarberatung
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