Wheat near a 3-month low as France wins Saudi business, Abu Dhabi talks set
Matif and Chicago wheat fell again on Nov 3 as Russia, Ukraine and the US confirmed peace talks for Nov 10-11. French exporters are loading large wheat cargoes for Saudi Arabia, reportedly the first since 2020.
· Feedsoft Markets Desk
TRANSKRIP
Wheat is near a 3-month low. Chicago December wheat fell 6.75 cents to $5.99 3/4 a bushel on Nov 3. Matif December lost EUR 3 to EUR 225.25 a tonne.
France just won Saudi wheat business. Two ships are each loading over 60,000 tonnes of French wheat at Rouen and La Pallice. Reportedly the first big French wheat cargoes to Saudi Arabia since 2020.
Saudi Arabia usually buys Black Sea wheat. Black Sea export disruption is shifting some of that business to EU suppliers like France.
Peace talks add pressure on prices. Russia, Ukraine and the US confirmed talks in Abu Dhabi on Nov 10-11. Hopes of a Black Sea export recovery are weighing on wheat.
Black Sea headlines are steering wheat. For wheat buyers, Black Sea supply news is moving both prices and who sells to whom. The Nov 10-11 talks are the next date to watch.
Baca analisis lengkap: feedsoft.ai/events/79690-france-benefits-from-russian-export-problem-grain-and-commodity-analysis
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