The wheat futures in Chicago were the strongest link in the agrarian complex yesterday and rallied strongly. Opportunity shoppings following recent price drops, portfolio companies' portfolio coverings, and Kansas City and Minneapolis wheat price gains boosted the market. Institutional investors yesterday bought 6,500 lots of CBoT SRW wheat. At the moment the electronic night market is trading again with moderate price premiums.
At Euronext in Paris, wheat futures benefited only marginally from the late rise in overseas prices, closing at unchanged to slightly firmer levels. The 3-month "on-off" strike at the French National Railways SNCF against the planned government reform, announced by the unions at the end of April, continues to cause disruptions and difficulties in logistics in France, which can not be adequately compensated by road haulage and inland shipping , Higher costs for late deliveries and additional storage costs also burden the grain industry financially. Soufflet, one of the largest grain traders in France, has only been able to load 3 out of 5 planned trains since the beginning of April.
