Technical sales, the weak global demand for U.S. wheat, improved weather conditions in US - wheat-producing areas, as well as negative guidelines from the Kansas City and Minneapolis wheat were significantly weaker close the wheat quotes on Friday in Chicago. The weekly U.S. export sales were for the marketing year 2014/15 and 42,500 tons of wheat for the year 2015/16 with 253.600 tons of wheat in line with market expectations of analysts previously surveyed. Institutional investors increased their holdings of net short positions to 6,000 contracts. The electronic exchange of the night is today tomorrow slightly weaker. On the Euronext in Paris, the Weizenfutures followed the weak requirements from overseas and eased prices on all dates. The Russian Government has approved the introduction of the new wheat export tax from July 1. It should help to limit wheat exports in case of a strong devaluation of the rouble. The tax is set at 50% of the price per ton minus 5,500 rubles. The minimum is 50 rubles per tonne ($1 = 52,5650 rubles).
