Late short covering by fund companies, as well as buying activity, after the rates on a one-week low fell, could close the wheat prices with moderate gains on Friday in Chicago. The USDA increased the estimate of the U.S. wheat production in his WASDE report 2016/17 of 2,261 Mio.Bushel (July estimate) to 2,321 Mio.Bushel. However, the estimate of US closing stock 2016/17 was reduced to 1,100 Mio.Bushel. In advance, analysts expected an increase to 1,114 Mio.Bushel. 252,82 Mio.Tonnen reduced the estimate of world wheat closing stock was 2016/17, she easily exceeded the average expectation of 251,63 million tons. For the EU, the USDA reduced the estimate of wheat production by 2015/16 on 147.5 million tonnes (July estimate: 156.5 million tonnes). Fondsgesellschften SRW wheat bought 3,000 lots. At the hour the eCBoT is easily fixed. The Weizenfutures on the Euronext in Paris followed the initial losses in Chicago and gave way on all dates. FranceAgriMer announces that the French soft wheat crop by 8 August to 76% is completed (last week: 62%).
