In Paris, wheat futures continued to move higher. May, the month with the highest turnover, closed with a profit of EUR 8.50/ton to EUR 287/ton. The price rally continued yesterday on the CBoT. The futures were temporarily stopped out because the daily highs were reached. The main driving force is the recent events in Ukraine. After the Russians attacked some Ukrainian air force bases in the night, the contracts clearly went north. Additional support was provided by the US's most recent inventory ratings. According to this, around 35% of the stocks in Kansas are in poor condition, and the situation in Oklahoma has continued to develop negatively. Meanwhile, Turkey is looking for 435,000 tons of wheat on the world market, and Thailand has also put out a tender for 294,600 tons. Global demand therefore remains high.
