Profit-taking before the today's USDA report (18 h CET), the nascent U.S. winter wheat crop in the southern regions, as well as the stronger U.S. dollar, which negatively affects the competitiveness of U.S. wheat in the export market, had losses close the wheat prices in Chicago yesterday. With a total of only 223.800 tons, the weekly U.S. export sales below market expectations were wheat. Funds increased their holdings of net short positions to 7,000 lots CBoT SRW wheat. The eCBoT is today tomorrow slightly weaker.
Mixed yesterday joined the Weizenfutures on Euronext in Paris. Declining prices overseas strained while the later dates could claim the front month. The European Commission granted export licenses for 374,000 tons of wheat in the last reporting period. With a total 29,234 million tons, wheat export licenses are 1,039 million tons after the result of the previous year by 30,273 million tons in the current marketing year.
