Taking profits after the price gains on Monday caused the wheat futures in Chicago to close inconsistently yesterday. The U.S. Department of Agriculture's weekly grain health report shows a moderate improvement in the state of U.S. winter wheat stocks. Institutional investors sold 1,000 lots of CBoT SRW wheat yesterday. The eCBoT is acting somewhat firmer this morning. At Euronext in Paris, the wheat futures followed the negative overseas guidelines and relented on all dates. The increased exchange rate of the euro also burdened the European wheat market. Night frost in the northern and central regions of Ukraine could lead to damage to winter crops in snow-free areas, reported APK-Inform. Mills in Germany see no greater demand this week, according to a dealer. After the demand for bread and pasta has risen sharply in the short term, market participants are now watching how the further demand develops. The closure of restaurants and hotels has reduced the demand for flour from these sectors to practically zero, which compensates for the higher demand from private households.On the cash market in Hamburg, premiums for export wheat with 12.5% protein for delivery in April remained unchanged at 6.50 euros via Paris May 20.
Source
HANSA Terminhandel
