05.
10.23
08:52

Wheat prices are trending south - more ships on their way to Ukraine

Yesterday, wheat prices were unable to maintain the positive trend from the beginning of the week. The front month of December lost 2.50 euros and closed the trading day at 234.00 euros/t. The subsequent contracts went south to a similar extent. The cash markets in Germany are largely unchanged. Because of the holiday, trading was quieter anyway. Demand from the concentrated feed industry remains manageable, but there is no supply pressure from producers. Large amounts of grain flowed into the Netherlands, particularly from the south and west. The prices are unchanged to slightly weaker. Poland and Ukraine have meanwhile agreed on a procedure for the transit of agricultural goods through Poland. Ukraine delivers its goods through the country to Lithuania to be shipped from there. Lithuania will take over the role of controller, as the three countries involved announced yesterday. The modalities should apply from today. Algeria has significantly increased its imports of wheat. The company's own wheat harvest was significantly below average due to drought.Due to increasing population numbers, import volumes are expected to continue to rise in the country, which has the second largest demand for wheat in North Africa after Egypt. It has been reported that more ships have made their way to the Ukrainian coast. Russia has moved naval ships from Crimea to the Russian coast, which is seen as a sign that Russia will not prevent Ukrainian transports. Wheat also went south on the CBoT.

Source
VR AGRICULTURE
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