The SRW wheat futures ended yesterday's trading day in Chicago with moderate premiums. The front month of May closed at its lowest level since the end of January. Meteorological services expect further rainfall in the dryness-plagued US Plains this week. Last weekend, rainfall and a blizzard caused a slight relaxation. Institutional investors yesterday sold 1,000 lots of CBoT SRW wheat. Today at 13:30, the weekly US export sales will be released. Analysts expect wheat exports in a range of 150,000 to 500,000 tons. At the moment the eCBoT is moderately weaker. With comparatively weak sales, the wheat futures on the Euronext in Paris also spent a quiet day and closed unevenly. India has abandoned the plan to double the import tax on wheat to 40 percent. For the third year in a row, wheat imports are expected to offset a decline in domestic production. In Hamburg, the quotations for standard wheat with 12% protein remained unchanged at 4 euros over Paris in March 18.
