Grain enamel

Worldwide good harvest prospects closed the wheat futures yesterday in Chicago with discounts. Institutional investors sold 4,000 lots of CBoT SRW wheat. This morning the eCBoT is trading unchanged or slightly weaker. The wheat futures at Euronext in Paris followed the negative guidelines from overseas and closed at all dates with losses. Forecasts of rainfall in Europe and the Black Sea region, the higher euro exchange rate and weak crude oil prices also put pressure on the economy. Egypt's state grain buyer bought 120,000 tons of wheat of Russian origin as part of an international tender process. The purchase was smaller than analysts expected. The company bought 60,000 tons for the delivery period May 15th - 25th and another 60,000 tons for the delivery period May 26th - June 5th. EU soft wheat exports in the current marketing year 2019/20 (July - June) reached a volume of 26.71 million tons as of April 12. This is an increase of 68% compared to exports 2018/19 as of April 7, 2019.The Romanian export ban, which was announced shortly before the Easter holidays, may not have too great a long-term impact, but in addition to the restrictions in Russia and Ukraine, the pressure is increasing to restrict Black Sea exports, traders believe.