At almost the same level, wheat prices closed yesterday trading in Chicago. After the decline of the last days, short covers by fund companies were yesterday for lightweight support. The electronic exchange of the night is time inconsistent.
On the Euronext in Paris continues the downward trend in the Weizenfutures and prices eased further on all dates. Algeria bought about 450,000 500,000 tons of milling wheat of optional origin for the price of $199 - $200 / ton c & f for shipment in September. Traders expect that the wheat comes from the Baltic republics. The Ukrainian consulting company UkrAgroConsult has increased now 23.3 million tons its forecast of Ukrainian wheat harvest 2016 from 22.0 million tonnes. The company called favorable weather conditions in the spring as the main reason for the increase in the forecast. Also the forecast of wheat exports was increased from 11.5 million tons to 13.5 million tons. The result of the vote of the British withdrawal from the EU is expected to eagerly.
