While the contracts on the CBoT rose slightly yesterday, wheat on the Euronext/Matif went south. The news situation was mainly characterized by international reports and announcements. The USDA reported yesterday export shipments of 168,000 tons for the past week, less than half of the previous week. The grain companies Cargill and Viterra had already announced their withdrawal from the Russian business last week, followed yesterday by the Dutch company Louis Dreyfus. The Ministry in Moscow then again emphasized that the withdrawal will not affect the reliability and capacity of Russian grain supplies. The Indian government yesterday renewed its forecast for its own wheat harvest of 112 million tons, which would mark a new record in the country's history. Recently, however, there has been very heavy rainfall and also hail, which has affected around 8 to 10 percent of the area. However, according to government information, the yields per hectare in other growing areas should compensate for the losses.The rising spot market quotations for feed wheat and bread wheat are also manageable in the first week of April. Because of the Easter holidays, many registration dealers are expecting calm business developments anyway. Premarket signs are green for the wheat contracts in Chicago today.
Source
VR AGRICULTURAL
