Grain mail

In the United States, the exchanges yesterday because of a "Thanksgiving" holiday remained closed. The trading starts again today at 15:30 CET. The International Grains Council (IGC) has increased to 749 million tons its forecast of world wheat production 2016/17 of 1 million tonnes. The forecast of world corn production in 2016/17 increased the IGC mainly due to improved conditions in the United States and Brazil to 7 million tonnes to 1.042 billion tons.
The volume of trade on Euronext in Paris was low due to missing stimuli from Chicago and the wheat prices closed with modest losses. European traders log export business in a volume of 481.000 tonnes of common wheat for the week up to the 22.11.16. So soft wheat exports are rising in the current marketing year 2016/17 on 9,436 million tons. Together with wheat flour, durum and durum Grist, exports to 10,446 million tonnes versus 9,543 million tons accumulate in the marketing year 2015/16. In Hamburg the standard wheat with 12% rose in protein delivery January to € 2.00 over Euronext März 17, because dealers due to the once again lower euro to the US dollar expect good demand.

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