Weaker financial markets, the stronger US dollar and falling crude oil prices negatively impacted the wheat prices in Chicago yesterday. The weekly export sales were 513.800 tons of U.S. wheat in line with market expectations. At the hour the eCBoT is easily fixed.
On Euronext Paris the Weizenfutures despite the negative requirements from overseas could be quite good and the market closed mixed. The Commission granted export licenses for 209.000 tons of wheat in the week up to 18.10. Together with wheat flour and durum exports totaled in the current marketing year to 8,427 million tonnes versus 7,283 million tons in the same period of the previous year. The spread on the December maturity between the CME EU wheat and the Euronext wheat increased from €6.75 € 8,00. The CME delivery system with silos in the domestic and industrial demand support of the EU wheat futures prices, while the weak export demand reflects the price development in the Euronext wheat. Egypt's State grain purchasing GASC last night bought 120,000 tons of wheat of Russian origin at an average price of $179,70 per tonne FOB.
