Short covering by funds, after good export numbers surprised the market, providing good profits yesterday when wheat prices in Chicago. The weekly export figures for the marketing year 2015/16 was 294.900 to for US wheat and 2016/17 with 387.900 to both above market expectations.
The e-CBoT is today tomorrow almost unchanged.
Wheat prices because of good exports and the low tax willingness of farmers rose also on Euronext in Paris. In the last reporting period, the European Commission issued export licenses for 628,000 to wheat. With a total 26.559 Mio.to, wheat export licenses remain just 7% behind the proud result of the previous year (28,439 Mio.to) in the current marketing year. From France, 778,000 tons of wheat were exported in the first 11 days of this month. In addition to the traditional customers of Algeria and Morocco, also Cuba, Mexico, Indien(!) and the Yemen were supplied. Soon, even 60,000 to go to Thailand.
