In the wake of falling soya and corn prices in Chicago, wheat prices also suffered a slight decline yesterday. The too dry weather conditions in the US Plains prevented however larger losses. In Chicago, soybean and corn futures fell sharply yesterday after China unsettled investors by announcing that it would soon impose punitive tariffs on imports of US goods.
Institutional investors yesterday sold 5,000 lots of CBoT SRW wheat. The eCBoT is firmer this morning. At Euronext in Paris, the front month of May fell sharply at the beginning of trading, but recovered during the course of the day and closed unchanged. The dates of the new harvest ended the trading day with losses. Traders report that Algeria bought 300,000 tons of wheat yesterday. The lion's share should fall on France. In Germany, cash market premiums in Hamburg saw a growing gap between buyers and sellers. The quotes for standard wheat with 12% protein for delivery in April fell € 4.50 over Paris May 18. Buyers offered € 3.00.
