The wheat futures in Chicago ended the day of trading inconsistently yesterday. While the front months were able to hold their ground slightly due to short coverage and spread activity against corn and soy, the late months closed somewhat weaker. The global spread of the corona virus and price losses in Kansas City and Minneapolis wheat weighed on the market. With a total of 570,400 tons of wheat (old and new crops), weekly US export sales were within the market expectations of 375,000 - 675,000 tons. Institutional investors bought 1,000 lots of CBoT SRW wheat yesterday. This morning the eCBoT is trading at losses. The wheat futures at Euronext in Paris were able to benefit from the improved requirements from overseas and closed with price premiums. We are in a calm but nervous market that is affected by the financial markets. The increased exchange rate of the euro worsens the competitiveness of wheat from the euro area on the world market. Meanwhile, the winter in Germany remains remarkably warm and frost damage to the plants can hardly be seen. The prospects for the new harvest are currently good. The rainfall in February increased the water reserves in the soil after the dry summer.
Source
HANSA Terminhandel
