04.
06.15
08:44

Grain mail

Profit-taking after the strong gains of the last two days, as well as losses at the Kansas City and Minneapolis wheat made with light tees close the wheat prices yesterday in Chicago after initial gains. First, the courses were supported but due to further short covering by fund companies, as well as a weaker US dollar against the euro. Institutional investors increased their holdings of net short positions to 3,000 contracts. The private analyst of Informa economics reduced in his yesterday's estimate of U.S. wheat production by 2015/2016 to 1,481 billion bushels (previous month: 1,486 billion bushels). At the time, the electronic exchange of the night is moderately weaker.
On Euronext Paris, the Weizenfutures could not keep their daily maximum prices and at the end of the courses on all dates joined with light Downstrokes. The firmer euro to the U.S. dollar reduces the competitiveness of European wheat on the international export market.

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