Wheat futures ended yesterday's trading day with the exception of the front month of May with moderate price increases. The USDA put the quarterly wheat stocks at 1.412 billion bushels. Market analysts interviewed beforehand expected an average of 1.432 billion bushels. The US wheat acreage estimate has also been reduced to 44,655 million acres (anticipated 44.982 million acres). Wheat futures came under pressure during trading as the ratings of winter wheat stocks in the Kansas and Texas growing regions improved. Institutional investors bought 1,500 lots of CBoT SRW wheat yesterday. This morning the electronic night market is moderately firmer.
With comparatively low trading sales, the wheat futures at Euronext in Paris benefited from the improved requirements from overseas and closed unchanged or firmer. The strong decline in the euro, which improves the competitiveness of wheat from the euro area, provided support. The lively wheat exports of the European Union support the physical premiums on the cash market. In Hamburg, premiums for export wheat with 12% protein for delivery in April remained unchanged at 5 euros via Paris May 20.
Source
HANSA Terminhandel
