Grain enamel

Technical purchases, short coverage from fund companies and a declining harvest forecast in Russia caused wheat futures in Chicago to close yesterday with moderate premiums. The Russian agricultural consultancy SovEcon reduced its forecast of the Russian wheat harvest from 80.8 million tons to 79.7 million tons. This was due to low yields in the southern regions. Egyptian state grain purchaser GASC yesterday bought 114,000 tons of wheat of Russian origin for the delivery period August 16-26. US wheat was not offered. Institutional investors yesterday bought 2,500 contracts of CBoT SRW wheat. This morning the eCBoT trades with moderate premiums.
Wheat futures at Euronext in Paris followed the positive overseas guidelines on the dates of the 2020/21 harvest and recorded slight gains. The dates of the duck 2021/22 ended with losses. Due to the French national holiday and the absence of many French market participants, the trading volume was low. APK-Inform raised the forecast for the wheat harvest in Ukraine from 24.5 million tons to 25.3 million tons.The euro exchange rate rose yesterday, worsening the competitiveness of euro area wheat on the export market.

Hansa Terminhandel GmbH
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