Wheat prices in Paris and Chicago turned south on Thursday. On the Euronext/Matif, the front month of May lost EUR 4.50 and closed at EUR 261.75/t. On the CBoT, the leading May contract fell in double digits. On the cash markets it remains calm overall, the price expectations are sometimes far apart. In southern Germany in particular, however, we hear that many Czech traders are currently active on the market and are again offering grain for around EUR 10 per ton below the local prices. The demand made by the Polish Prime Minister on Wednesday for regulatory measures to curb Ukrainian grain exports to neighboring countries in Eastern Europe is apparently being heard in the European Union. EU Agriculture Commissioner Wojciechowski promised that the international community will support it. Following the announcement that two Western companies were withdrawing from Russian grain terminals, Russia is doing everything it can to ensure that exports are not threatened. A press release from Viterra employees states that they want to set up an independent grain trading company.At the CBoT, profit-taking also had a negative impact on prices. Wheat hit a new four-week high on Wednesday, prompting many traders to rake in profits. In addition, the opinion is becoming more and more widespread that the coming harvest should be plentiful at least in Russia, Ukraine and the European Union due to the mild winter.
Source
VR AGRICULTURAL
