In six consecutive trading sessions, the wheat prices closed yesterday in Chicago with losses. The rapidly advancing U.S. wheat crop, weak financial markets and negative requirements of the soybean and corn complex impacted the market. The weekly U.S. export inspections were 762.800 to wheat well above market expectations.
The electronic exchange of the night is fixed to the hour.
Due to the weak targets overseas, also the Weizenfutures on the Euronext in Paris eased further. In the last reporting period, the EU Commission issued export licenses for 870,000 to wheat. With a total 30.1 Mio.to, wheat export licenses are only 568.000 to behind the results of the previous year at the same time (30,672 Mio.to) in the current marketing year. Too wet weather unsettled the market participants, they are concerned about quality issues at the grain, but you can say anything about the actual impact.
