Wheat: worry about qualities in northern France

Midweek wheat prices fell on both Euronext/Matif and CBoT. The front month in Paris fell by 2.50 euros/t, the meanwhile most traded December contract closed 2.75 euros/t at 250.75 euros/t. Relatively small quantities are traded on the cash markets in Germany, both rural trade and farmers are active as buyers on the market. Larger supply volumes are expected for the coming week as the weather conditions for the harvest are expected to improve in many parts of the country over the weekend. As in Germany, farmers and market observers in France are concerned about the quality of the stocks that have not yet been harvested. While the qualities were still very good at the beginning of the harvest season, there are problems with the protein content, the number of cases and other quality characteristics, especially in northern France. Here, too, it is expected to get warmer at the beginning of the coming week and the farmers hope to be able to complete the harvest, which has been progressing very slowly so far, more quickly. Across the Atlantic, prices were also under pressure.For the WASDE on Friday, the analysts are expecting an increase in US production, which is depressing the mood on the exchange package. In addition, there have been no renewed attacks on Ukrainian port cities, which are important for the transport of grain, in the last few days. This eases concerns about the global grain supply.

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