Grain mail

Wheat prices in Chicago closed the third day in a row yesterday with losses. The weak global demand for U.S. wheat, as well as the stronger U.S. dollar against the euro affected the market. With 291.500 tons of U.S. wheat were the weekly U.S. export sales below the market expectations of 300,000 500,000 tons. Algerian of Government grain purchasers OAIC bought from wheat of optional origin at least 250,000 tons by tender. Mexican traders bought several cargos wheat from France to supply since last week in August/September. Market observers expect that more purchases followed. Institutional investors reduced their holdings of net long positions to 4,000 contracts. The e-CBoT is today morning with further reductions. On the Euronext in Paris were able to get the wheat prices despite the losses from overseas and supported by the weak euro significantly recover. The European Union granted export licenses for 470,000 tons of wheat this week. In the current marketing year amounted to exports for wheat on a total of 937.000 tons (baseline year: 501.000 tons).

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