Wheat futures in Chicago were the strongest link in the agricultural complex yesterday and were able to make significant gains. Positioning ahead of today's monthly WASDE report (6pm) and rising global prices boosted the market. Today at 2.30 pm, the USDA will also publish the weekly US export sales. Analysts expect exports in a range of 200,000 - 550,000 tons of wheat. Institutional investors bought 5,500 contracts of CBoT SRW wheat yesterday.
This morning, eCBoT is trading moderately firmer again.
With significantly higher trading volumes, wheat futures on Euronext in Paris followed the positive cues from overseas and recorded gains on all dates. Demand for European wheat has been strong in recent months. France's wheat shipments reached a seven-year high in December, although shipments in several of the country's ports were temporarily halted for several days as a result of the transport strikes. Offers for standard wheat with 12% protein on the cash market in Hamurg for delivery in January fell yesterday by 1.00 euro to 4.00 euros above Paris March 20.
Source
HANSA Terminhandel
