Wheat prices in Chicago were the strongest link in the agricultural complex yesterday and grew slightly. Signs of frost damage in the US plains caused wheat ratings to decline. As of April 26, 54% of US winter wheat stocks were in top condition, down 3% from the previous week. In addition, sowing summer wheat is slow. 14% of the space has been ordered, the 5-year average is 29%. Institutional investors bought 1,500 lots of CBoT SRW wheat yesterday. This morning the e-CBoT is trading at losses.
The wheat futures at Euronext in Paris were unable to benefit from the improved overseas requirements and ended the trading day with exchange rate losses. Rainfalls in Europe and the Black Sea region improve the growing conditions of grain stocks. The Egyptian government has bought 578,000 tons of wheat on the local market since the beginning of the harvest season (mid-April to June). For standard wheat with 12% protein for delivery in Hamburg in May, sellers demand a premium of € 7.00 / to above the Matif Mai future. In Germany, the quantities of wheat available for export are becoming smaller and smaller after extensive exports.
Source
Hansa Terminhandel GmbH
