Wheat in Paris is increasing

Wheat prices in Paris were also able to increase on Tuesday. On the Euronext/Matif, the leading September date went north by EUR 3.50/t with a settlement of EUR 244.75/t. With the ongoing harvest work, farmers are hoping for better windows in the coming days, especially in northern Germany, as warm temperatures and a temporary end to the many rain showers have been reported. In Schleswig-Holstein, for example, only 5 to 10 percent of the stocks have been threshed, depending on the region. The producers here are satisfied with the yields, although the qualities are very heterogeneous. For France, the Ministry of Agriculture has adjusted its forecast for the French soft wheat harvest upwards and now expects 35.6 million tons instead of 35 million tons. Barley is also harvested more in France than previously expected. The forecast service ICAR has adjusted its wheat forecast for Russia upwards and expects the country to grow 48.1 million tons (+ 900,000 tons) this season. The analysis company Sovecon has also raised its export forecasts and at the same time raised the forecast for the current Russian harvest to 88 million tons and thus by 1.5 million tons compared to previous expectations.On the CBoT, the front month closed with a small loss. Spring wheat inventories were down 1 percentage point in the USDA's most recent inventory report, with 41 percent now in good or very good condition. At the same time, however, the summer wheat harvest is picking up speed, 11 percent of the stocks have been brought in by the weekend. The winter wheat harvest is 87 percent complete and is only just behind the harvesting pace of recent years.

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