The good global supply situation and weak demand for US wheat on the export market weighed on wheat futures in Chicago yesterday. At 313,810 tons of wheat, weekly US export inspections were in line with market expectations. Today the USDA publishes the monthly WASDE report at 6 pm. Institutional investors sold 3,000 contracts of CBoT SRW wheat yesterday. The eCBoT is currently trading with moderate losses. Overall, wheat futures on Euronext in Paris closed firmer yesterday with low turnover. Traders are waiting for new impulses from the WASDE report. In France, rain showers are once again delaying the sowing of winter cereals. In addition, traders are concerned about the ongoing strike against the pension reform. Physical premiums on the cash market in France remained stable. However, they rose on the spot market in Hamburg. Standard wheat with 12% protein for delivery in January is offered in Hamburg with premiums of €3.00/tonne above the Matif March futures. Egypt's commodity buyer GASC launched a tender yesterday evening for the purchase of an unspecified quantity of wheat. Deliveries are to take place between February 5 and 15.
Source
HANSA Terminhandel
