Wheat prices halted their decline in yesterday's trading session. On the Euronext/Matif, wheat for delivery in December went north by EUR 4.25. Corn prices also increased on the CBoT and rose accordingly to 871.50 US cents/bu (+ 13.50 cents/bu). European wheat exports have meanwhile reached a volume of around 8.8 million tons and are thus around 50,000 tons above the previous year's volume. Germany contributes 980,000 tons to the total volume, making it Europe's third largest exporter. From a European perspective, there are export hopes for Morocco. According to a new report from the USDA, the harvest there has been so bad that the country could become one of the top six importing countries. An easing of the situation in Ukraine is still not in sight. The referendums are over and with the first statements from Russia, concerns about the further possibility of Ukrainian sea exports are increasing. The US spring wheat harvest is 96 percent in. The sowing of winter wheat is also making much better progress in the USA and, at 31 percent, is in line with the average for the last five years.
Source
VR AgrarBeratung AG
