Grain mail

Wheat prices in Chicago yesterday were the weakest link in the agricultural complex and slightly eased. Technical sales as well as forecasts for good harvest weather in the southern growing areas negatively impacted the market. Russia's leading agriculture consultancy IKAR has reduced to 55-59 million tons its forecast of the Russian wheat harvest to 1 million tons by 2015. Dry weather conditions in some major wheat-producing regions are fundamental. Institutional investors kept their holdings of net short positions at the same level. The electronic exchange of the night is moderately firmer to the hour. The Weizenfutures despite the slightly negative requirements from overseas could attach minimal to the Euronext in Paris. The French analyst FranceAgriMer reduced its forecast of the French soft wheat stocks at the end of the marketing year 2014/15 (July June) of 3.60 million tonnes (previous month) to 3.00 million tonnes. Compared to the marketing year 2013/14 it would be but still an increase of closing stock by 26.9%.

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