Wheat futures in Chicago saw strong gains yesterday. International demand and the increased domestic demand for the mills gave the market a boost. However, with only 349,369 tons of wheat, the weekly US export inspections fell short of the market expectations of 350,000 - 600,000 tons. Institutional investors bought 12,000 contracts of CBoT SRW wheat yesterday. At the moment, the e-CBoT is trading with losses. The wheat futures at Euronext in Paris followed the positive guidelines from overseas and were able to increase significantly on all dates. The front month of May reached a two-month high in the course of trading due to the good export demand and currently difficult logistics. Exporters expect good demand from North Africa. Morocco plans to suspend wheat imports for another 45 days. Export prices for Russian wheat stabilized last week for the first time in seven consecutive weeks with falling prices, reports SovEcon. The falling ruble exchange rate boosted wheat exports. Meanwhile, domestic prices rose and there is talk of possible export restrictions.Russian wheat with a protein content of 12.5% loaded at ports on the Black Sea remained unchanged at $ 207 per ton FOB at the end of last week, according to SovEcon.
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HANSA Terminhandel
