Positions ahead of today's USDA report and disappointing US wheat exports caused wheat prices to close slightly in Chicago yesterday. With only 71,500 tonnes of US wheat, weekly US export sales were well below market expectations of 250,000-450,000 tonnes. Institutional investors yesterday bought 2,000 lots of CBoT SRW wheat. At the moment the eCBoT shows little change. At Euronext in Paris, wheat futures followed the negative overseas guidance and posted losses on all dates. A sharp rise in the value of the euro against the US dollar this afternoon created additional pressure as it worsens the competitiveness of euro area wheat over global competition. European dealers reported for the week until 09.01. Export transactions in a volume of 356,000 tonnes of common wheat. As a result, EU soft wheat exports will increase to 10.946 million tonnes in the current marketing year 2017/18. In Hamburg, the quotations for standard wheat with 12% protein for delivery in February remained unchanged at 4.00 euros over Paris in March 18. For feed wheat in Südoldenburg, the quotes are still higher, at around 174.00 euros.
