If Chicago was delighted with the decline in wheat production forecasts in all competing countries, then Paris in the July USDA report saw, first of all, a decline in production and export forecasts for Russian wheat.
Also, the growth of stock activity triggered a forecast from the USDA for a decrease in wheat production in the EU countries, which coincided with a previously made forecast by the Agency Strategie Grains.
September milling wheat quotations on the Paris Stock Exchange MATIF rose € 3.25 to 176.75 € / ton ($ 199.10 / ton).