After the wheat futures on the Euronext/Matif started trading yesterday with a red sign, the contracts closed the first trading day of the new week with a clearly green sign. At the end of the day, the most traded May date showed a plus of 7.50 euros and a closing price of 266.75 euros/t on the stock exchange display board. On the domestic cash markets, prices are also increasing to roughly the same extent. Trading here is mainly prompt and only truckloads instead of entire stocks. The producers in particular are speculating that prices will rise sharply again, especially for the new harvest. The recovery in wheat prices was supported by reports from Russia, which were already a topic in trade on Friday. Accordingly, the Ministry of Agriculture has asked exporters to export less wheat and sunflower oil. However, there are no official confirmations that this will actually be implemented politically. In addition, there are reports from the USA that both summer and winter wheat stocks in the important growing state of Kansas are again suffering from drought. US export shipments for the week ended 3/23. lay with 392,000 tons and 17.000 tons higher than in the previous week and the same week last year is also clearly exceeded. Overall, however, US export shipments are around 230,000 tons behind the previous year's result at this point in time. Premarket contracts are carrying slight losses in Chicago today.
Source
VR AGRICULTURAL
