CBoT wheat futures are trading at their three-week low this morning. A large supply of wheat on the world market is causing fierce competition among suppliers from the surplus regions. This is weighing on prices.
Today, a tender for wheat deliveries to Syria is attracting the attention of market participants. It is hoped that this will reveal further price developments. The tender is for 200,000 tons of bread wheat to be delivered from Russia.
No US wheat was offered in the last Egypt tender. 350,000 tons of wheat will be delivered from Russia, Romania, Ukraine and France.
Source
HANSA Terminhandel
