A significant rise in the price of Kansas City wheat yesterday saw strong gains in wheat futures in Chicago. Global wheat stocks are plentiful, but traders have found that protein-rich wheat supplies are scarce. Local mills are looking for wheat in response to cleared bread and pasta shelves as a result of the Corona crisis. Consumers are forced to eat more at home again. Today at 1:30 p.m., the USDA publishes weekly US export sales. Analysts expect exports to range from 250,000 to 700,000 tons of wheat. Institutional investors bought 3,000 lots of CBoT SRW wheat yesterday. At the moment, the eCBoT is moderately firmer. At Euronext in Paris, the wheat futures followed the good guidelines from overseas and closed more firmly on all dates. The aging May date grew most strongly. The courses also received support from the weak euro, which increases the competitiveness of European wheat on the world market. Crude oil prices plunged again yesterday, trading at an 18-year low. On the cash market in Hamburg, premiums for export wheat with 12.5% protein for delivery in April remained unchanged at 7 euros via Paris May 20.
Source
HANSA Terminhandel
