14.
07.20
06:45

Grain enamel

Improved weather conditions in the United States and heavy losses in the soybean and corn complex also caused wheat prices in Chicago to close yesterday, with significant discounts. The weekly US export inspections exceeded the market expectations of 350,000 - 550,000 tons with 624,211 tons of wheat. 68% of the US winter wheat crop was harvested as of July 12, the USDA reported yesterday (previous week 56%). Analysts had expected harvest progress to be 70%. Institutional investors sold 7,500 contracts of CBoT SRW wheat yesterday. At the moment, the eCBoT is acting somewhat more firmly. At Euronext in Paris, profit taking after last week's 7-week high, the fixed exchange rate of the euro and the negative overseas conditions put a strain on wheat prices. The Russian agricultural consultancy IKAR lowered its forecast for the 2020 wheat harvest from 78 million tons to 76.5 million tons. The company is reacting to the weak earnings in the south, in central Russia and in the Volga region. Egypt's raw material purchaser GASC launched a tender last night for the purchase of an unspecified amount of wheat for the delivery period August 16-26.

Source
Hansa Terminhandel GmbH
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