Wheat prices in Chicago posted a hefty price increase yesterday. Forecasts of heavy rains in the southern US - wheat growing areas, short covers by fund companies, good instructions by the Kansas City and Minneapolis wheat, as well as the weaker U.S. dollar against the euro gave the market buoyancy. The weekly U.S. export sales were wheat below expectations of analysts previously surveyed for the marketing year 2014/15 with 115.400 tons of wheat slightly above expectations and for the year 2015/16 with 142,000 tons. Institutional investors reduced their holdings of net short positions to 15,000 contracts. The electronic exchange of the night is today tomorrow minimal fixed. On the Euronext in Paris, the Weizenfutures could benefit from the good requirements from overseas and joined the courses on all dates with substantial markups. Strategy of grains increased its estimate for the year's soft wheat harvest in the EU-28 to 1.2 million tons in its monthly forecast now 142.6 million tonnes, because the vegetation conditions in Europe have recently excelled.
