Wheat prices in Paris recovered on Friday and continued to rise, especially after the start of trading in the USA. Europe's wheat exports to third countries continue to be very brisk. France and Romania lead the statistics with 4.9 million tons and 4.5 million tons respectively. Germany is in third place with 1.9 million tons. In Germany, however, the demand for export wheat in the ports is currently rather quiet, even if exporters are likely to benefit from the current exchange rate. Internationally, it seems that the competition for deliveries to China is increasing. However, it remains questionable whether, in the medium term, Putin's state visit to China could also create a new destination for Russian wheat exports. On the eCboT, they are also green again today after Friday's price gains. Initial estimates for upcoming WASDE reports assume US closing stocks will increase.
Source
VR AgrarBeratung AG
