Bargain purchases following the recent sharp falls and moderate price gains on Kansas City and Minneapolis Wheat caused a slight premium on the wheat futures yesterday in Chicago. However, the improved ratings of winter wheat stocks in the US plains reported by the USDA on Monday and the good global supply situation with wheat continue to limit the upside potential. Institutional investors yesterday bought 3,500 lots of CBoT SRW wheat. The eCBoT is trading harder at the moment. At the Euronext in Paris, the wheat futures followed the overseas guidance and closed on the forward dates with moderate spreads. In France, the railroad workers' strike continues to cause logistical problems. In some regions, however, the recent increase in premiums declined again. The DRV predicts the German wheat harvest in 2018 at 24.3 million tonnes. This slightly improves the estimate compared to the previous month, but is slightly below the previous year's figure of 24.5 million tonnes (- 0.8%). At the cash market in Hamburg, the quotations for standard wheat with 12% protein for delivery in April increased by 0.50 cents to 4.00 euros via Paris May 18.The quotes for feed wheat in Südoldenburg remained unchanged at 179 euros.
