Egypt places large order for French wheat

The September wheat contract on the Matif closed €1,75 higher yesterday at €358,50 per tonne. On the CBoT, the July contract actually closed 0,3% lower. The trade will certainly take advantage of the USDA report on acreage and stocks. The expectation is that the corn area will increase and that this will be at the expense of the area of ​​spring wheat and soy. At the same time, analysts expect the quarterly estimate for soy stocks to be higher. The Egyptian state agency GASC has used the dip in the wheat market to purchase a large quantity of wheat. GASC has secured 815.000 tons of mainly French wheat in a tender. That is the largest purchase in years.

Export issues
In Argentina, a number of major farmer interest groups are calling for a halt to the grain trade. On July 13, they want to completely halt the export of agricultural products for at least 24 hours. According to the organizations, the Argentine government is not doing enough to address the shortages of diesel and fertilizer in the agricultural sector. Grain exports in the South American country are already struggling due to a strike by truck drivers. Argentina is the world's second largest exporter of corn and among the largest exporters of soybean oil and meal.

Russian news agencies TASS and RIA reported today that the first ship loaded with grain left the occupied port of Berdyansk. The ship is loaded with 7.000 tons of grain (what kind of grain is unknown) destined for 'friendly countries'. The Russian Defense Minister previously announced that the Russian-occupied ports of Mariopol and Berdyansk were ready to resume grain exports. Ukraine accuses Russia of stealing grain from the occupied territories. The Kremlin denies that grain has been stolen from Ukraine.