The US wheat markets ended the trading week with mixed signs. In Chicago, SWR wheat was up slightly by 3.00 US cents for September at 506.50 US cents/bushel. In Kansas City, HRW wheat was also up, with the September date gaining 2.75 US cents to 507.00 US cents/bushel. Minneapolis, on the other hand, was unable to maintain its level: Spring Wheat fell slightly at the end of the week.
Despite the positive daily trend, the weekly balance remains negative. SWR wheat in Chicago lost 8.00 US cents, HRW in Kansas City closed 11.25 US cents lower. Spring Wheat in Minneapolis was under particular pressure with a weekly loss of 6.75 US cents.
The latest export data from the USDA, on the other hand, provided bullish impetus: cumulative US wheat exports stood at 11.03 million tons. This is the highest level for this calendar week since the 2013/14 season, meaning that 46% of the USDA forecast has already been met, significantly more than the long-term average (43%).
Internationally, the mood is currently dominated by the news surrounding Trump, Putin and Ukraine. Traders are acting cautiously, as the outcome of the talks is uncertain but could have a decisive impact on trading.
On Euronext, wheat for December came under pressure and lost €2.50 to €195.25 per tonne.
