The wheat quota in Chicago yesterday was the strongest link in the agricultural complex and closed with moderate gains. Technical purchases and gains on Kansas City wheat helped the market. Institutional investors yesterday bought 3,000 lots of CBoT SRW wheat. The eCBoT is trading with winnings. At Euronext in Paris, wheat futures rose moderately on positive overseas sentiment and the weaker common currency. The trading volume was very low. FranceAgriMer has reduced its monthly estimate of French soft wheat exports outside the EU for the fifth year in a row. The estimate of self-consumption at the farms, however, was increased sharply. FranceAgriMer expects French soft wheat exports outside the EU to reach only 8.5 million tonnes during the marketing period 2017/18 (until 30 June) (February estimate: 9.0 million tonnes). The self-consumption estimate at the farms was increased by 500,000 tonnes to 2.8 million tonnes.
On the cash market in Hamburg, the quotations for wheat with 12% protein for delivery in March remained unchanged at € 4.00 over Paris May 18.Quotes for feed wheat in Südoldenburg are still significantly higher, at 174 euros.
