Potential export restrictions from Russia and Ukraine for the rest of the season closed the wheat futures in Chicago on Friday with moderate premiums. In a weekly comparison, the front month of May rose by 5.9%. Institutional investors bought 3,500 lots of CBoT SRW wheat on Friday. This morning the electronic night market is trading in premiums again.
The wheat futures at Euronext in Paris were able to benefit from the positive conditions from overseas and from the very strong export demand and closed on the first four maturities with price premiums. Russia's Ministry of Agriculture proposed the government to limit grain exports from April to June to a quota of 7 million tons to protect domestic supplies. The Ministry of Economy of Ukraine announced that it would monitor grain exports and take action if necessary. In France, an extensive export program caused logistical concerns for the rest of the season as the corona virus slows down the supply chain. On the cash market in Hamburg, premiums for export wheat with 12.5% protein for delivery in April remained unchanged at 5 euros via Paris May 20.
Source
HANSA Terminhandel
