Late profit taking and the good harvest prospects around the world closed the wheat futures in Chicago yesterday with slight losses. However, frost weather in some US wheat growing areas and good global demand for wheat supported the market. China bought 165,000 tons of US wheat on Friday, and yesterday private exporters reported a sale of 120,000 hard-red wheat to an unknown destination. The USDA yesterday judged the wheat field in North America to be 62% in excellent shape. Last year it was 60% on this date. Institutional investors sold 2,000 lots of CBoT SRW wheat.
The e-CBoT is trading slightly weaker this morning.
Trading at Euronext in Paris was closed yesterday due to the Easter holidays. The prices shown show the trade and the closing prices from the previous Thursday. Egypt's state-owned grain purchaser, GASC, launched a tender last night to buy wheat of unknown amounts for the delivery periods May 15-25 and May 26-June 5.
Source
Hansa Terminhandel GmbH
