Technical sales as well as the withdrawal of speculative investors before the weekend due to the uncertainties in the market caused by the corona pandemic caused the wheat prices on Friday in Chicago to close with significant losses. In a weekly comparison, the most liquid SRW wheat contract July 20 lost 0.2% in value. US exporters hope to be considered in Saudi Arabia's bid to buy 655,000 tons of wheat. Institutional investors sold 12,000 lots of CBoT SRW wheat. The e-CBoT is trading slightly weaker this morning. The wheat futures at Euronext in Paris followed the negative guidelines from overseas in a reduced form and closed with losses. The condition of winter wheat and spring barley stocks in France deteriorated again last week and ratings have been in decline for the second week in a row, FranceAgriMer reported in its weekly harvest report on Friday. 58% of the common wheat stocks received the top rating "good to excellent" as of April 20, compared to 61% in the previous week. For standard wheat with 12% protein for delivery in May in Hamburg, sellers demand a premium of € 6.00 / to above the Matif Mai future.
Source
Hansa Terminhandel GmbH