16.
06.15
08:51

Grain mail

Wheat prices in Chicago fell yesterday on a two-week low and closed with significant losses. A strong global export competition, improved weather conditions for harvesting in the southern U.S. Plains, as well as losses at the Kansas City and Minneapolis wheat exerted pressure on the quotes. With 377.847 tons of wheat were the weekly U.S. export inspections in line with market expectations of 300,000 450,000 tons. Australia ABARES has revised its forecast of wheat production for the season by 2015/16 due to dry weather conditions. Below-average rainfall and dry soils, particularly in the East of Australia, as a possible result of the weather phenomenon El Niño, lead to a reduction of the forecast from 24.4 million tons to 23.6 million tons of wheat. Institutional investors increased their holdings of net short positions to 10,000 contracts. The e-CBOT shows today tomorrow moderately firm. On Euronext Paris, the Weizenfutures followed the weak requirements from overseas and prices eased significantly on all dates.

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