Grain enamel

Late technical purchases caused moderate premiums on Chicago's wheat futures yesterday. With 535,691 tons of wheat, the US export inspections were within the market expectations of 400,000 - 650,000 tons. The USDA announced yesterday evening that 55% of US winter wheat stocks in the US are in top shape (54% last week). Analysts had expected the decline to 53%. Institutional investors bought 2,000 lots of CBoT SRW wheat. The eCBoT is acting weaker this morning. At Euronext in Paris, the wheat futures recovered from the initial losses and closed inconsistently. In early trading, the European market was hit by the fall in Chicago. Analysts see the renewed tensions between Washington and China as a potential demand risk for the US market. The EU Commission increased its forecasts for soft wheat exports from the EU this and next season, while lowering its forecasts for domestic consumption. On the cash market in Hamburg, premiums for export wheat with 12% protein for delivery in May remained unchanged at EUR 8.00 above Paris May 20. In Poland, prices fell in the last week after the fall in Paris and a weaker domestic demand.The strong exports continued.