A mix of technical purchases and the increased global demand for flour products left the wheat futures in Chicago yesterday with significant premiums. Today at 1:30 p.m., the U.S. Department of Agriculture publishes weekly U.S. export sales. Analysts expect exports to range from 350,000 to 950,000 tons. Institutional investors bought 10,000 lots of CBoT SRW wheat yesterday. At the moment, the eCBoT is trading with losses. The wheat futures at Euronext in Paris were able to benefit from the positive requirements from overseas and closed with profits on all dates. Algeria bought around 240,000 tons of ground wheat of optional origin as part of an international tender process. The relatively small volume could be a result of the coronavirus epidemic, particularly logistical difficulties in France, Algeria's main wheat supplier. Reports of possible export restrictions on food in some countries, including Russia, also made the market nervous. Iraq's trade minister said his country needs 1 million tons of wheat and 250,000 tons of rice for the state's food aid program and to increase state reserves.One has to prepare for an increasing demand during the corona crisis.
Source
HANSA Terminhandel
