The weak US wheat demand on the world market, technical sales and negative defaults from Kansas City and Minneapolis wheat pushed the wheat quotations yesterday in Chicago with moderate drops. With 322,860 tonnes of US wheat, the weekly US export inspections were behind the market expectations of 325,000-525,000 tonnes. Fund companies were yesterday net seller of 2,500 lots of CBoT SRW wheat. At the moment, the eCBoT is slightly tighter. At the Euronext in Paris the wheat fudge against the negative targets from overseas and closed with weak profits with slight profits. Russia's Ministry of Agriculture expects a volume of up to 83 million tonnes for the wheat harvest in 2017. The last estimate was 81.4 million tonnes. The USDA was 82 million tonnes in the WASDE report of 12 October. The export price for Russian wheat with 12.5% protein for delivery in October was according to IKAR at the end of last week at $ 192.00 / ton FOB. This is a drop of $ 2.00 to the previous week. The offers for export wheat in Hamburg with 12% protein for delivery in October are about 1.00 euro over Paris December 17.
