Profit-taking ahead of the long weekend, the tighter exchange rate of the US dollar, which worsens the competitiveness of US wheat on the world market, and precipitation forecasts for the regions in the US plains that are plagued by drought, all contributed to losses on wheat futures in Chicago on Friday . Institutional investors sold 5,000 lots of CBoT SRW wheat on Friday. Memorial Day is celebrated today in the United States. Exchange trading in agricultural commodities only begins again with the start of the electronic night market on May 26, 2016 at 2:00 a.m.
The wheat futures at Euronext in Paris also closed at all dates with losses. The prospects of rain in parts of Northern Europe, Poland and southern Russia as well as increased wheat ratings in France put pressure on prices. The growth conditions in Germany are mixed. While the areas in the center and south received sufficient rainfall, it is too dry in the north and east, the main export regions. On the cash market in Hamburg, premiums for export wheat with 12% protein for delivery in September fell to 1.50 euros below Paris Dec. 20.
Source
Hansa Terminhandel GmbH
