Wheat prices corrected yesterday on the Euronext/Matif. The front month of December lost EUR 3 per tonne and closed at a settlement of EUR 339 per tonne. the first trading day of the new week. In Russia, export prices continue to fall due to the plentiful and depressing wheat harvest. FOB Black Sea port Russia is currently quoted at 312 US dollars per tonne, which is 11 US dollars less than a week ago. The Russian sowing, on the other hand, still does not seem to be progressing so well. According to Sovecon, 14.9 million hectares are currently under cultivation, compared to 15.3 million hectares at the same time last year. In an international tender, Saudi Arabia has ordered 566,000 tons of milling wheat for delivery in March and April next year. No information is available on the origin so far. Wheat contracts also went south on the CBoT. Weak figures for export shipments weighed on the mood here. Compared to the previous week, 46 percent less wheat was loaded. In addition, heavy rainy weather is approaching in the Great Plains, which have been marked by drought so far.
Source
VR AGRAR
