Wheat Morning Audio Recap

<div><audio controls><source src="https://stream.futuresline.com/audioarchive/1741781169706-40113.mp3" type="audio/mp3"></audio></div><br /><h3 style="font-family: Verdana, Geneva, sans-serif;">Transcript</h3><div style="font-size: 12pt; font-family: Verdana, Geneva, sans-serif;">Here's the latest on the Wheat Market from QT NEWS.<br /><br />In the latest updates from the wheat markets, trade activity remains vibrant and noteworthy actions are reported from key grain-buying countries. Today, a significant development comes from Tunisia, which is seeking approximately 100,000 metric tons of optional origin mill-grade wheat. Offers for this tender are expected to be submitted by tomorrow, March 13th, with shipments anticipated between April and May.<br /><br />Similarly, Jordan is entering the market with its own tender for 120,000 metric tons of optional origin mill-grade wheat, setting March 18th as the deadline for offers. The anticipated shipment window extends from July 1 to August 31.<br /><br />Forecasts from France AgriMer indicate a slight increase in soft wheat exports within the EU, now projected at 6.28 million metric tons for 2024/25, a slight increase from last month's 6.24 million metric tons. However, exports outside the EU are expected to decrease to 3.2 million metric tons, down from 3.4 million.<br /><br />Additionally, France AgriMer has revised its soft wheat ending stockpiles to 2.9 million metric tons, slightly higher than the previous estimate of 2.8 million metric tons, reflecting adjustments in production and market dynamics.<br /><br />Japan?s agricultural ministry has also announced a reduction in imported wheat prices for domestic mills, cutting an average of 4.6% starting in April. This decline is attributed to stabilizing wheat prices in the global market.<br /><br />In Ukraine, the situation remains tense following a Russian missile strike at Odessa port, which caused significant damage to a grain vessel and tragically resulted in casualties. This conflict continues to disrupt grain exports from the region, adding volatility to the market.<br /><br />Current futures trading paints a mixed picture; May mill wheat futures on Euronext Paris are down 1.50 euros to 219.75 euros per metric ton. The Chicago Board of Trade reported deliveries for March Chicago Wheat have reached 12, while the Kansas City Board of Trade announced deliveries for March Wheat at 29. <br /><br />As we analyze the market, it's essential to keep an eye on these evolving trends, particularly with pending tenders and the global response to ongoing geopolitical challenges. The dynamics of supply and demand continue to shape the outlook for wheat, influencing both pricing and availability across the international markets.</div>