Technical selling and profit-taking weighed on wheat prices in Chicago yesterday. The weekly US export inspections of 345,109 tons of wheat were at the lower end of market expectations of 300,000 - 700,000 tons. Institutional investors sold 3,500 contracts of CBoT SRW wheat yesterday.
This morning, the electronic overnight exchange is again trading with slight losses.
Wheat futures on Euronext in Paris followed the negative cues from overseas yesterday and closed unchanged to slightly weaker. Concerns about an escalation of tensions between the United States and Iran weighed on the market. Market participants are eagerly awaiting the publication of the WASDE report on January 10. The EU Commission announced yesterday that the publication of the EU's weekly export and import data for grain and oilseeds has been delayed due to technical problems. The offers for standard wheat with 12% protein for delivery in January fell yesterday on the cash market in Hamburg from 5.00 euros to 4.50 euros via Paris March 20. Traders are expecting further extensive shipments to Africa in January.
Source
HANSA Terminhandel
