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European wheat futures advanced on Friday, with benchmark prices reaching their one-year high in Paris, deteriorating crop prospects encouraging buying and pushing forward futures by the resistance of the cards. The December milling wheat, the most active contract on Euronext based in Paris, was established at 4 euros, or 2.1%, up to 193.25. euros ($ 226.12) per tonne, after crossing the resistance of the cards to 190 euros Friday
In closing, it reached its highest level since July 10, 2017, at 193.50 euros, close to a peak The futures contracts on Euronext reached their highest level in three years, at 191.75 euros, during the session
. fall in production in Russia, the world's largest exporter of wheat.
"The supply outlook for the EU and the Black Sea region is getting more and more tense," says a futures distributor. crop forecasts are correct, with 33-34 million tonnes for France, 20-21 million for Germany, 64-65 million for Russia and an endless drought in Australia. "
In France, the consulting firm Agritel expects this year The harvest of soft wheat reached 34.2 million tons, down 6.5% from last year and s & # 39; Approach to estimating 33.2 million grains Strategy that had knocked out the market at the end of June
FranceAgriMer said maize harvests fell last week, said FranceAgriMer, and traders have stated that hot, dry weather was a concern and could add to a picture of the tightening of grain supply for livestock feed. [19659002] In Germany, feed wheat prices were particularly high in anticipation of damage caused by drought
"The harvest of feed grains seems very bad after the drought in Germany and the first results of the wheat harvest are not encouraging."
Prices of wheat forages ager are now significantly higher than those of milling wheat.
Standard soft wheat at 12 per cent for the September delivery to Hamburg was unchanged at € 7.0 compared to December.
In September / December, the German market in Oldenburg South worked very well on soft wheat at 18 euros against Paris in December
in Great Britain, which also suffered a sharp decline in production. wheat reached a new five-year high of 175.75 pounds ($ 230.48) per tonne.
Source: Reuters (Reportage by Valérie Parent and Gus Trompiz in Paris and Michael Hogan in Hamburg, edited by Kirsten Donovan)
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