Yesterday, Wednesday, the March contract on the Euronext/Matif went south for EUR 2.50. Wheat could not keep the positive signs of the previous days yesterday. The export statistics of the EU Commission show wheat exports of 18.78 million tons for the current marketing year up to 01/29/2023. This means that the lead over the previous year has increased again somewhat. In northern Germany, but also in the Baltic Sea ports, there is currently talk of a quieter export business. Overall, cash market activity in Germany remains calm. According to reports, the food industry is supplied with sufficient grain until April/May, the feed mixers are ordering cautiously, since their buying farmers are very reluctant to enter into feed contracts in the wake of the recent fall in grain prices. On the CBoT, the signs were mixed yesterday after mostly starting the day trading with losses. Today the USDA will publish the weekly export sales, analysts expect a quantity between 300,000 and 600,000 tons.CanStat will also publish new figures on wheat stocks in Canada this week, and it is expected that these will be significantly better than last year in terms of quantity.
Source
VR AGRICULTURAL
