Technical purchases after the recent six-week low, good export figures and price increases for the soybean and corn complex caused the wheat futures in Chicago to close yesterday with good premiums. In April, however, the July maturity fell 7% in value after the contract rose by 7% in March. With a total of 622,500 tons of US wheat, weekly US export sales were at the upper end of the market expectations of 200,000 - 650,000 tons. Institutional investors bought 5,500 lots of CBoT SRW wheat yesterday. The e-CBoT is currently trading losses.
At Euronext in Paris, the wheat futures followed the positive guidelines from overseas and closed with profits on all dates. However, the increase was limited by the precipitation in parts of Germany and France and the forecast for precipitation in the southern regions of Russia and Ukraine. The IGC reduced the monthly forecast for global wheat production by 4 million tons to 764 million tons due to unfavorable weather conditions in Europe and the Black Sea region. On the cash market in Hamburg, premiums for export wheat with 12% protein for delivery in May remained unchanged at 8.00 euros via Paris May 20. Today there is no trading at Euronext in Paris.
Source
Hansa Terminhandel GmbH
