Short covers of fund companies, the weaker dollar, which increases the competitiveness of U.S. wheat in the export market, as well as positive requirements of the soybean and corn complex made with strong gains include the wheat prices yesterday in Chicago the sixth day in a row. Institutional investors reduced their holdings of net short positions at the CBoT SRW wheat to 7,500 slots. The electronic exchange of the night is today tomorrow slightly weaker.
The Weizenfutures due to the current weather risk and the positive requirements from overseas joined also significantly harder on the Euronext in Paris. Torrential rains in France could limit the wheat yields and qualities in the country of the largest EU wheat producer. The recent rally and the rise of the euro to the dollar reduces the chances of European wheat export market. Egypt's quarantine authority has rejected the 40,000 tons of wheat from Poland and Canada for ergot stocking.
Premiums in Hamburg = 11,00 euro/to see December 2016.
