Wheat prices rise due to fears about crops and blackmail of the Russian Federation

Quotations of wheat continued their gradual growth against the background of concerns about the state of crops in the USA and the northern part of the EU, as well as the continuation of Russian blackmail regarding the "grain agreement". This was reported by Barva Invest analysts.

Latest indications:

July Chicago wheat contract (ZWN3) — $6.36/bu (+$0.03/bu);

September wheat contract on Euronext (EBMN3) — €238.75/t (+€0.5/t);

DAP-Port Danube (11.5%) — $171/t;

DAP-Rort Pnmx — $160/t.

"Activity on the Ukrainian market remains weak against the background of limited demand and the approach of the new harvest," the analysts noted.

Corn quotes eased gains after a worsening US crop condition, while the market continues to closely monitor changes in weather forecasts for the US crop:

the December Chicago corn contract (ZCZ3) — $5.51/bu (+$0.02/bu);

November corn contract on Euronext (EMAХ3) — €230.75/t (+€0.5/t);

DAP-Rort Danube — $167/t;

DAP-Rort Pnmx — $160/t.

The situation on the Ukrainian market remains without significant changes. Demand is very limited and concentrated mainly on spot supplies.