Weekly overview of the global wheat market (December 6)

Weather In the US Midwest, temperatures in the range of 5-10°C and rainfall of 10-20mm are expected, favorable for wheat, which is in the early stages of its development. In the Canadian prairies, temperatures between -5 and 0°C are forecast, accompanied by light snowfall of up to 10mm. These conditions are typical for this time of year, with wheat and barley remaining dormant. In Russia, the breadbasket of the country, no significant rainfall is forecast for the next seven days. Given the extremely poor outlook for the crop, this could definitely emerge as new "fodder" for the bulls. Meanwhile, extensive rainfall in Australia over the past two weeks has caused difficulties for the harvest campaign, and this pattern will continue to some extent into next week. Global market highlights MATIF wheat is on track for a weekly gain, supported by a number of factors. Political turmoil in France continues to weaken the euro, making European wheat more competitive on international markets. ...