24.
07.20
05:52

Grain enamel

Due to good harvest prospects in the northern hemisphere, the prices of the CBoT wheat futures fell yesterday. In the night market in Chicago, however, the prices can already improve slightly.
The International Grains Council (IGC) yesterday lowered its forecast for the wheat harvest in the 2020/21 season to 762 million by 6 million tons. The EU wheat harvest is now estimated at 125.6 million tons after 128.4 million tons in June. Bulgaria, France and Poland harvest less than previously expected by the IGC. The harvest estimate for Russia is now 78 million tons after 79 million tons in June. The USA should now harvest 49.6 million tons after an estimated 51.1 million tons in the previous month. EU soft wheat exports are sluggish in the new season. 460,329 million tons were exported in the first 19 days of the new season (-53% compared to the previous year).
The exchange rate of the euro against the US dollar rose yesterday to 1.16, the highest level since October 2018. This makes exports from here more difficult. Wheat from France is currently more expensive than that from southern Russia. The wheat harvest has started in southern Germany. If the weather cooperates, an average harvest quantity with decent qualities can be expected.

Source
Hansa Terminhandel GmbH
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