Technical sales and losses on soybeans caused wheat prices in Chicago to close at a discount yesterday. Last Thursday, they closed the month after the release of the USDA quarterly report. At 47.339 million acres, the USDA estimates the US wheat acreage higher for the 2018 harvest than analysts expected. The weekly US export inspections yesterday were in line with market expectations, with 361,723 tons of wheat. Also in line with expectations were US export sales on Thursday (475,600 tonnes). Institutional investors bought 7,000 lots of CBoT SRW wheat on Thursday, yesterday selling 3,500 lots. At the moment is the eCBoT with serves. The wheat futures on the Euronext in Paris were able to gain slightly on Thursday at the end of the week. Support was provided by the late price increases in Chicago and the weaker exchange rate of the euro. Egypt's state grain buyer GASC bought 475,000 tons of wheat on Thursday as part of an international tender process. 355,000 tonnes of wheat of Russian origin and 120,000 tonnes of Romanian origin. FOB prices were between $ 217 / ton and $ 219.90 / ton.
