EU wheat rises on Cargill plans to cut Russian export activities
PARIS, March 29 (Reuters) -European wheat rose to a nearly two-week high on Wednesday after U.S. grain trader Cargill said it was planning to stop its export activities in Russia, the world's largest wheat exporter, and concern about dry weather hitting U.S. winter crops.
On Paris-based Euronext, front-month May milling wheat BL2K3, the last contract for the current 2022/23 season, closed 0.7% higher at 265.25 euros ($287.13) a tonne after rising as high as 271.75 euros in earlier trade, its highest since March 16.
September BL2U3 gained 1.1% to 265.00 euros a tonne.
Cargill is taking a further step back from the Russian market, as it plans to stop handling Russian grain from its export terminal from next season, although its shipping unit will continue to carry grain from Russian ports, the company told Reuters.
In addition, grain trader Vittera, part-owned by Switzerland-based mining and trading giant Glencore GLEN.L, is planning to stop grain trading in Russia, Bloomberg News reported, citing sources familiar with the matter.
"Cargill, Viterra, and probably more to come. It seems Moscow is trying to regain control of its export logistics," a trader said. "This could make exports out of Russia more difficult, at least that's what was being priced today."
Traders said dry weather in the United States was also supportive.
The U.S. Department of Agriculture on Monday rated 19% of the winter wheat in top producer Kansas as "good-to-excellent," steady with the previous week. However, ratings remain below average in most U.S. Plains states due to drought.
Poland called on the European Union on Wednesday to use all tools at its disposal to limit the influx amount of Ukrainian grain entering the bloc's market which has been weighing on local prices.
Prices at 1636 GMT | |||
Last | Change | Pct Move | |
Paris wheat BL2K3 | 265,25 | 1,75 | 0,66 |
Paris maize EMAM3 | 262,00 | 3,00 | 1,16 |
Paris rapeseed COMc1 | 479,75 | 8,00 | 1,70 |
CBOT wheat Wv1 | 704,50 | 4,75 | 0,68 |
CBOT corn Cv1 | 648,25 | 1,00 | 0,15 |
CBOT soy Sv1 | 1474,50 | 6,75 | 0,46 |
WTI crude oil CLc1 | 73,20 | 0,00 | 0,00 |
Euro/dlr EUR= | 1,0827 | 0,00 | -0,15 |
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne | |||
Reporting by Sybille de La Hamaide in Paris; Editing by Rashmi Aich
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
