The mood on the US wheat exchanges deteriorated noticeably at the end of the week. In Chicago, SWR wheat for December was down slightly by 0.25 US cents at 519.25 US cents/bushel. The September contract lost 1.25 US cents and closed at 501.00 US cents/bushel. In Kansas City, HRW wheat held steady in the front September term with a gain of 2.00 US cents, but December fell by 1.00 US cents and ended the week at 505.25 US cents/bushel. Spring Wheat in Minneapolis closed consistently weaker with daily losses of 4.25 US cents.
The USDA's latest export report had a particularly bearish effect: at just 312,978 tons, the weekly export volume was well below expectations and marked the second-worst figure of the current marketing season. The main buyers were Nigeria with 117,100 tons, followed by Mexico and the Philippines.
On Euronext, wheat for December also lost €0.75 to €189.00 per tonne.
