The wheat quotes in Chicago ended the trading day yesterday with moderate gains. Analysts fear that the recent rains in the dryness-plagued US plains will not be enough for a significant recovery in winter wheat stocks. The increase was limited by expectations of good sowing conditions for Northern Plains spring wheat and technical sales. With 173,500 tons of US wheat, weekly US export sales were at the bottom of expectations. Institutional investors yesterday bought 2,000 lots of CBoT SRW wheat. At the moment the eCBoT is weaker. At Euronext in Paris, wheat futures were unable to follow the positive overseas guidance and closed on all dates with losses. The now warm and dry weather favors the development of the grain harvest in the European Union. Strategy Grains currently estimates EU soft wheat production at 141 million tonnes, 100,000 tonnes less than expected in March and 1% lower than last year. European traders reported export operations for a volume of 373,000 tonnes of common wheat for the week ending 17.04.18. EU wheat exports thus increased to 15.6 million in the current marketing year.Tonnes (-24% yoy).
