The Euronext wheat started the new trading week with positive momentum. The May date closed with a plus of 6.00 euros/ton to 275 euros/ton. Futures on the Chicago Stock Exchange have just been able to stay in the profit zone. The conflict between Russia and Ukraine remains in the focus of market participants. However, the experts from Sovecon emphasized that despite the tensions, there should not be any major restrictions on export transactions on the Black Sea. Almost a third of global exports come from the two countries. Meanwhile, around 75% stocks in Ukraine are reported to be in good shape. The USDA expects wheat production to reach 86.5 million tons, which would be a new record.
