Grain enamel

Negative targets from Kansas City and Minneapolis wheat and an upward revised crop estimate in Russia caused wheat prices in Chicago to close yesterday with significant losses. The Russian agricultural consultancy IKAR yesterday increased its estimate for wheat for the 2020 harvest by 1.5 million tons to 79.5 million tons due to higher yields in Central Russia and the Volga region. The weekly US export inspections of 500,110 tons of wheat were within the market expectations of 450,000 - 675,000 tons. In contrast, they fell compared to the previous week (544,010 tons). 88% of US winter wheat stocks were harvested as of August 2, the USDA reported yesterday (previous week 85%). Institutional investors sold 9,500 contracts of CBoT SRW wheat yesterday. At the moment, the eCBoT is dealing with further losses. At Euronext in Paris, the wheat futures followed the weak overseas guidelines and relented on all dates. Wheat export prices in Russia were under pressure at the end of last week because the new crop is now entering the market and the ruble exchange rate against the US dollar has fallen. Russian wheat with 12.5% protein from Black Sea ports cost $ 207 / tonne FOB on Friday when shipped in August.That was $ 3 / tonne less than the previous week.

Hansa Terminhandel GmbH
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