13.
12.23
08:21

Wheat production in France will be lower

After the setbacks of the past few days, the Paris stock exchange went north yesterday. The new front month of March increased by 3 euros to 231.25 euros/t. There was also a noticeable increase in subsequent contracts. Things remain quiet on the cash markets. Hardly anyone expects a recovery this year and the willingness to trade contracts for the coming harvest has noticeably decreased because both producers and agricultural traders are finding it increasingly difficult to set prices for the summer. In France there are increasing indications that the area under wheat cultivation will probably be smaller than previously expected. Instead of the expected around 4.8 million hectares, the possible area is likely to decrease to 4.5 million hectares. Frost last week and rain this week are hindering sowing progress in many regions. Europe's exports of common wheat continue to lag significantly behind the volumes of previous weeks and the previous year overall. 165,000 tonnes were exported last week and 13.6 million tonnes for the entire marketing year to date, which corresponds to a shortfall of around 2.2 million tonnes compared to the previous year. Wheat contracts on the CBoT rose significantly yesterday.The March date closed with a double-digit gain of 16 US cents at 625.50 US cents/bu (212.85 euros/t). Here, rising prices on the Black Sea, which were recently reported, had a particularly positive effect on prices. In addition, US exporters are hoping for contracts based on the many tenders currently placed on the global market

Source
VR AGRICULTURE
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