Buyers pull out of wheat market
With the weather being too dry in the USA and Russia and too wet in parts of France concerns are being voiced over poor sowing conditions and stocks. Ukraine is, by contrast, benefitting from urgently required rain. With quotations partly topping USD 6.00/bushel, Chicago is witnessing peaks not seen since June 2015. Wheat futures, in addition, top EUR 200.00/mt in Paris. In how far these high price levels can be sustained largely depends on the weather.
Since Black Sea prices are also up, EU wheat is highly competitive again. Tun