After the break on Tuesday, wheat prices resumed their upward trend yesterday. The May contract on the Paris Euronext/Matif rose to EUR 266.25 per tonne and thus by EUR 2.75. Wheat also went north on the CBoT, the May date here increased by 5 US cents to 704 .75 US cents/bu (238.78 euros/t). On the cash markets in this country, trade remains calm, but there are reports, especially from southern Germany, that there is great price competition between domestic goods and goods from Poland and the Czech Republic, and sometimes also from France. However, the demand from the collection trade and from the mills as a whole is still subdued. Hardly any contracts for the new crop have been signed at the moment. On the international stage, the news continues to focus on Russia. Official government representatives have spread the rumors about a possible export ban. However, there were also reports from the USA that the Cargill trading group intends to discontinue its activities in the field of grain loading in Russia. Cargill has interests in a Russian Black Sea port. The Viterra company also wants to discontinue its business in Russia.Yesterday, Russia tried to confirm that it could absorb the resulting loss of capacity on its own. However, there are doubts about the statement. Pre-market wheat prices in Chicago are showing a slight green sign today.
Source
VR AGRICULTURAL
