The majority of wheat contracts on the Euronext/Matif went north yesterday. The most traded March date increased by EUR 0.25 to EUR 307.25/t. However, the contract for September 2023 and the following delivery dates were in red yesterday. On the cash markets in Germany, the prices for bread and feed wheat increased slightly, but only a few sales are recorded. Feed mills are mostly sufficiently supplied up to February, buyers from the Benelux countries are currently hardly active on the German market. The US Department of Agriculture's December WASDE will cause a stir today. The majority of analysts are expecting a slight increase in global ending stocks. Higher ending stocks are also expected for the USA. The CBoT was disappointed by the export sales reported yesterday. At 190,000 tons, these were at the lower end of the previous market estimates and ensured that the majority of the contracts in Chicago ended with a red sign. Today there are small premiums on the eCBoT pre-market.
Source
VR AGRICULTURAL
