On both sides of the Atlantic, wheat futures fell yesterday. December on the Euronext/Matif closed yesterday with a daily loss of EUR 3.25 at EUR 336.00/t. Grain transactions on the local cash markets are currently mainly focused on the first quarter of 2023. For example, a surcharge of up to 6 euros can be achieved on the current prices for feed wheat for deliveries in the first quarter. From Russia, the analysis company Sovecon reports a fob price of 312 US dollars/ton and thus an unchanged quotation compared to the previous week. The future of the grain corridor is still viewed critically by the majority. Tensions continue to mount. Putin announced yesterday that 50,000 recruits from the partial mobilization are now deployed in combat in Ukraine. The US Dollar generally provided support for CBoT prices, however profit taking and technical selling prevailed. Tomorrow the USDA will release its November WASDE. It is expected that global ending stocks will be revised slightly downwards, but that there could be a little more wheat stored in the US itself.
Source
VR AGRICULTURAL
