Short caps by fund companies, extreme weekend cold weather prospects in major US winter wheat growing regions, and gains on Kansas City and Minneapolis Wheat made the wheat quotes close off in Chicago yesterday with good mark-ups. Institutional investors yesterday bought 3,500 lots of CBoT SRW wheat. The electronic night market is trading with moderate losses.
At Euronext in Paris, with weak sales as expected, only the maturities of the coming harvest benefited from the positive overseas guidance and closed at modest mark-ups. The dates of the old harvest, however, gave way a little. The increased exchange rate of the euro against the US dollar weighed on the market, because it worsens the competitiveness of euro-area wheat in the export market.
Egypt's GASC yesterday bought 180,000 tonnes of Russian-sourced wheat at prices ranging from $ 192.35 to $ 194.90 / ton FOB. With the exception of an offer from Romania only wheat of Russian origin was offered.
