The prices on the CBoT and Matif, which fell significantly on Friday, are also having an effect on the cash markets in Germany. The prices asked tend to be weaker, the willingness of the agricultural sector to sell is correspondingly low and the buyer side is also initially hesitant. On the Euronext/Matif, things went south again yesterday. The March date, which is about to expire, closes 2.25 euros/t lower, the corn date loses 2 euros to 278 euros/t. Wheat and corn prices were particularly impacted by the negative forecasts from overseas yesterday. The CBoT is down double digits for the second day in a row. The most traded May date lost 11.75 US cents/bu to 710 US cents/bu (245.98 euros/t). In the state of Texas, winter wheat stocks are rated slightly better at the start of the new week than they were last week. In Oklahoma, too, the wheat crops are in better condition, and here the results compared to the previous year are very clearly exceeded. In one of the largest states in wheat cultivation, Kansas, rain is currently bringing relief to the fields plagued by drought.After rather disappointing export sales on Friday, the weekly export shipments were friendly, but could not stop the sell-off. In the week ending February 23. 590,000 tons of wheat were shipped in US ports, up 220,000 tons compared to the previous week. The EU Commission has still not published any current export figures. Pre-market signs are also in the red on the eCBoT today.
Source
VR AGRICULTURAL
