Wheat prices fell yesterday. In Paris, the front date lost EUR 5.00 per tonne, in Chicago the December contract went south by 27.25 US cents per bu. Compared to the closing prices on Thursday of last week, wheat prices have moved up by 12.25 euros/t in the front term, despite yesterday's losses. A similar development can also be seen in the spot market listings. Wheat delivered to Hamburg is currently quoted at EUR 355/t for December delivery, compared to EUR 346/t last week. There was no news yesterday of talks about the future of Ukraine's Black Sea exports. Rather, the overall bearish mood on the financial and commodity markets determined the price movements yesterday. Concerns about the global economy and persistently high global inflation are also increasingly affecting the wheat market. Across the Atlantic, US export sales this week came in at 217,300 tonnes, at the lower end of market expectations, adding additional fire to selling pressures.
Source
VR AgrarBeratung AG
