Technical buying and short covering by funds due to heavy rains in the southern US - wheat growing area had good gains include the wheat prices yesterday in Chicago. Support was also good presets from the Kansas City and Minneapolis wheat, to dry weather conditions in the southern growing regions of Russia and frost in the northern U.S. wheat growing region. A mill in the Sultanate of Oman has written an international tender for the purchase of 60,000 metric tons of milling wheat. The goods should be Russian or German origin and have a minimum protein content of 12.5%. Institutional investors reduced their holdings of net short positions to 6,000 contracts.
The e-CBOT is unchanged until minimum fixed to the hour.
Also, the upward trend in the Weizenfutures on the Euronext in Paris will continue as a result of good requirements from overseas and prices recorded substantial price gains on all dates.
