Technical sales yesterday weighed on the wheat futures in Chicago. The weekly US export inspections exceeded the market expectations of 350,000 - 550,000 tons with 619,251 tons of wheat. Institutional investors yesterday sold 4,500 lots of CBoT SRW wheat. After close of trading, the USDA released the weekly crop ratings. 31% of the US winter wheat stocks are therefore in top condition. Analysts, however, expected an increase to 32%. The eCBoT is slightly weaker this morning. At Euronext in Paris, the wheat futures traded in a narrow range and closed barely changed. The decline in the exchange rate between the euro and the US dollar supported the market. Russian wheat export prices rose last week on strong demand and slowing exports from exporting regions in southern Russia. Black Sea wheat with 12.5% protein for delivery in April / early May cost $ 214.50 / ton FOB at the end of last week, according to IKAR, up $ 2.50 from the previous week. In France, the railway workers 'and dockers' strike continues to cause delays and marketing problems. Rail freight traffic provides 40% of grain exports to French ports and 50% to starch factories.
