08.
04.24
08:55

Wheat prices react to fighting

Wheat prices were able to end Friday's session with gains. The front month of May rose by 3 euros to 203.00 euros/t, thereby following friendly signals from overseas but also reacting to the renewed and more intensive fighting in Ukraine. In addition, wheat stocks in Germany and France continue to be viewed critically. The weather forecast in many places has not improved enough for producers to make progress with necessary field work. This has also prompted the World Food Organisation to revise its forecasts for the EU and Great Britain downwards. Russian export prices have also risen, but at the same time high inventories in Russia are still dampening further price expectations for grain. Producers in Germany have recently been holding back more with their offers. At the wholesale level, prices also showed slightly firmer tendencies on Friday. On the CBoT, the most traded May contract rose by double digits on Friday. Here too, tensions in Ukraine and rising prices in Russia are seen as the reason for the upward movement. However, pre-market contracts are again trending slightly lower this morning.

Source
VR AGRICULTURE
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