Concerns over yield losses on US winter wheat stocks in the US plains and cold soil temperatures in the Northern Plains that delay summer wheat sowing there triggered technical purchases and short-hiding yesterday and led to a sharp increase in SRW wheat futures in Chicago. Institutional investors yesterday bought 10,500 lots of CBoT SRW wheat. Today at 14:30, the USDA publishes weekly US export sales. Analysts expect wheat exports in a range of 150,000 - 550,000 tons. At the moment, the eCBoT is again moderately firmer. At Euronext in Paris, wheat futures were able to benefit from the good overseas conditions and reached the highest level in the trading history in five weeks. The weaker exchange rate of the euro against the US dollar supported the market. With 85,869 lots, the December maturity date has the highest contract level. Algeria is seeking 50,000 tonnes of optional wheat malt for delivery in July as part of an international tender process, and the offer period ends today. At the cash market in Hamburg, the quotations for standard wheat with 12% protein for delivery in May remained unchanged at € 4.50 over Paris May 18.Quotes for feed wheat in Südoldenburg are 178 €.
