05.
02.24
09:20

Wheat with no clear direction

Although wheat rose at the start of Friday's trading day, it was unable to maintain the positive trend at the end of the day. While the front month of March rose by 0.75 euros to 213.25 euros/t, the following contract in May went slightly southward. The prices were supported by rumors that China was interested in importing European wheat. But these rumors are apparently not particularly sustainable. Prices on the cash markets increased over the weekend. feed wheat ffr. South Oldenburg rose by 3 euros per ton to 208 euros/t, and feed barley also increased. Bread qualities that are currently in demand increased somewhat more at the wholesale level. Russia's exporters have recently been able to place less wheat on the world market. As market observers report, Russian prices have recently become less competitive. The CBoT also showed a mixed picture in the wheat market on the last trading day of last week. The market was also supported overseas by rumors about China's import needs - although according to market observers, demand is likely to be concentrated primarily in Europe. Overall, however, the global competitive situation is putting a strain on American prices. On Thursday, the USDA will release a new WASDE. Initial opinions assume that the ministry's experts will correct the final stocks downwards at the end of the season, and production increases are expected in Australia. A downward revision of the wheat harvest is expected for Europe. There are red signs in Chicago this morning before the trading session.

Source
VR AGRICULTURE
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