09.
04.24
08:39

Wheat: Sideways movement at the start of the week

At the start of the week, wheat prices were able to maintain their prices or increase slightly. The front month of May rose by EUR 0.75 to EUR 203.75. The other contracts closed unchanged, only the December contract showed slight red signs with manageable turnover. A similar picture emerged yesterday at the CBoT. Here too, the contracts closed with slight premiums or discounts. Overall, there was a sideways movement. The rising export prices in Russia are currently having a supportive effect. The analyst house IKAR reported an increase of 2 US dollars to 210 US dollars per ton. Sovecon also reported rising export prices and high inventories last week. Meanwhile, according to Sovecon, weekly export volumes in Russia have fallen again slightly. For March, analysts are expecting 4.8 million tonnes of exports, previously 4.9 million tonnes had been expected. Across the Atlantic, the recent positive condition assessments are weighing slightly on prices, while strong winds and persistent drought in some states are supporting the price. The weekly export shipments, which were published yesterday after the market closed, are around 60% higher at 497,534 tonnes.000 tons less than in the previous week. Pre-market contracts are trending red today.

Source
VR AGRICULTURE
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