Grain enamel

Forecasts of frost in the Midwest of the United States and related concerns that US winter wheat stocks could be affected and short position coverage closed the wheat futures in Chicago yesterday. Canadian farmers plan to expand wheat acreage by 3.3% year over year. The weekly US export sales of 380,100 tons of US wheat were within the market expectations of 150,000 - 650,000 tons. Institutional investors yesterday bought 5,000 contracts of CBoT SRW wheat. The e-CBoT is trading almost unchanged this morning. At Euronext in Paris, the wheat futures benefited from the good specifications from overseas and closed with premiums on all dates. Precipitation last week in Europe and the Black Sea region has prevented significant damage to wheat stocks, but more rainfall is needed. The state of wheat stocks in France has remained stable over the past week. As of May 4, 57% of the stocks were in top condition, reports FranceAgriMer. On the cash market in Hamburg, premiums for export wheat with 12% protein for delivery in September fell to 1.00 euros below Paris Dec. 20.