Wheat stocks revised down significantly

Wheat went north on Friday on both the CBoT and Euronext/Matif stock exchanges. On Friday, traders were particularly excited about the USDA's WASDE report. This contained quite different messages for the market participants. Closing stocks have been revised to their lowest level in six years. However, since a significant increase in production is expected for Russia, the USA and Australia, price movements were limited. The mood in the local cash markets remains firm. In particular, bread grains with good portability are in demand. From northern Germany, wheat yields of 6 to 9 tons per hectare are still being reported during harvesting work. However, producers are currently increasingly tending to store wheat and not offer it. Premarket wheat is trading weaker on the CBoT today.