Wheat prices in Chicago were the strongest link in the agricultural complex on Friday and grew. Technical purchases and short covers from fund companies after the significant losses of the previous days gave support to the market. In a weekly comparison, the front month of May lost almost 4% in value. Institutional investors bought 5,500 lots of CBoT SRW wheat on Friday. This morning the eCBoT is trading further course premiums.
At Euronext in Paris, the wheat futures benefited from the good overseas guidelines on all dates and closed more firmly. The state of the French winter wheat stocks deteriorated moderately in the week to March 30, reports the French agricultural consultancy FranceAgriMer. 62% of the stocks received the top rating "good to excellent", in the previous week 63% of the stocks received the top Rating. A year ago, 84% of the stocks were in top condition at the same time. In Germany, cash premiums for export wheat remained well above the Paris level, as the strong flow of wheat exports from German ports continues.For standard wheat with 12% protein for delivery in April in Hamburg, sellers continue to charge a premium of € 4.50 / to above the Matif Mai future.
Source
Hansa Terminhandel GmbH
