Global: Dry in Canada and Europe, too wet in China, wheat prices up
Wheat
China
Saudi Arabia
Published Jun 3, 2023
Original content
Thursday's sessions on both sides of the Atlantic ended with increases in wheat prices. Its price on Matif increased by EUR 2.50 to EUR 220.75/t, while the July futures contract in Chicago closed by 16.5 ct at 610.75 ct/bu (EUR 208.50), due to, among others, others from the use of low prices by investors. But back to the information about the crops. Harvesting in China is hampered by heavy rainfall, which in the north of the country spoils the quality of the grain. In addition, the next week does not bode well for improving the weather. Weather problems are also becoming more and more important in Europe. – In Europe, drought is an increasing problem. For now, there are no precipitation forecasts in northern France, Germany and Poland, the Benelux countries, Great Britain and southern Scandinavia. There has been almost no rain in the last 14 days, so farmers' fears of crop loss are growing, Kaack reports, adding that key crop areas in Canada are at their least irrigated in five ...
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