Grains - Grain Products

Wheat: Black Sea market declines significantly

January 30, 2020 9:49 AM, Der AUDITOR
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FRANKFURT. The wheat market declined worldwide. Due to the spread of the coronavirus in China and other Asian countries, the trade fears low export orders to these countries. Especially the price decline on the Black Sea caused a sensation, rain forecasts with better yield expectations put the market under pressure. France is risking its competitiveness in North Africa by continuing strikes. The price trend in France and Germany has been rather weak recently.

In Chicago, wheat was quoted at USD 5.58 per bushel in the morning, which is 7 cents lower than yesterday. In Paris, wheat declined by EUR 1.50 to EUR 192.50 per metric tonne. On the Black Sea, the February date plummeted by USD 3.75 to USD 226.00 per metric tonne. From a US perspective, developments in Western Europe and the Black Sea Region remained the price drivers. A strong influence is exerted by the announced rainfall at the Black Sea, which should improve the partly weak growth level due to drought in Ukraine, where there is currently a lack of about 80 mm/sqm of precipita

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