MATIF stands for Marche A Terme International de France (Paris Futures Exchange) otherwise known as milling quality French wheat futures trading in Paris. Yesterday we showed you the five minute candlestick chart showing MATIF wheat gained about $10 a mt (37 cents a bushel) the last five minutes of Monday’s trading day. Here is the fifteen minute chart after Tuesday’s trading:
MATIF wheat gained 3.5% the past two days. On $8 wheat, that is 28 cents a bushel.
Yesterday, hundreds of farmers stormed into the Legislative Assembly of the state of Goiânia to protest a proposed tax on agriculture production. Grain trader Eduardo Vanin reports parts of the states of Mato Grosso and Mato Grosso do Sul are blocked. He predicts corn shipments will soon be affected. However, the number of road blocks has been reduced from 18 to 9 according to Arlan Suderman.