Wheat prices in Chicago also firmed slightly on Friday on the back of positive guidance from the soybean and corn complex. The easing of the trade dispute between China and the USA and the weaker US dollar supported the market. Institutional investors sold 3,000 contracts of CBoT SRW wheat on Friday. The eCBoT is trading firmer this morning. On Euronext in Paris, wheat futures followed the positive cues from overseas only to a limited extent and closed unchanged to slightly firmer. In the course of trading, the front month of March 2020 reached a new 1-week high. The significant rise in the exchange rate of the euro against the US dollar weighed on prices. On the cash market in France, premiums for wheat for prompt delivery remained stable despite continued export demand. The strike against the pension reform and the unfavorable weather conditions, which are delaying the maize harvest and winter cereal sowing, continue to cause concern there. On the cash market in Hamburg, offers for standard wheat with 12% protein for delivery in January rose to EUR 3.50 above Paris March 20. Demand is high because deliveries are being called off to load ships. In addition, many traders are closing their books and trading positions before Christmas and New Year.
Source
HANSA Terminhandel
