Wheat futures in Chicago saw losses again last Friday. Weak financial markets and falling crude oil prices as a result of the spread of the corona virus burdened the market with agricultural commodities. China has granted tariff exemptions to some importers for the purchase of U.S. wheat, sorghum, dried grain, and other products. Traders are also waiting for signs that China is implementing its commitments in the trade agreement with the United States and purchasing large amounts of US agar commodities. Institutional investors sold 3,000 lots of CBoT SRW wheat on Friday. The eCBoT is trading with further significant losses this morning. At Euronext in Paris, the wheat futures followed the weak overseas guidelines and relented on all dates. The sharp rise in the euro against the US dollar weighed on the market, as did the weaker exchange rate of the ruble, which improves the competitiveness of Russian wheat. France's farmers have not made any significant progress in spring barley sowing due to wet weather conditions over the past week. For standard wheat with 12% protein for delivery in April in Hamburg, sellers demand a premium of 5 € / to above the Matif Mai future.
Source
HANSA Terminhandel
