The wheat quotations in Chicago declined significantly yesterday. Technical sales, profit-taking after recent spreads and the rise in the US dollar weighed on the market. The weekly US export sales surprised in their height with a total of 577,900 tons of wheat. Institutional investors yesterday sold 5,000 lots of CBoT SRW wheat. The eCBoT is firmer this morning. At the Euronext in Paris, the wheat futures resisted the negative overseas guidance and closed with mark-ups. The weak euro exchange rate provided support. European traders reported export transactions in a volume of 722,000 tonnes of common wheat for the week ending 24.04.18. They thus increase to 16.34 million tonnes in the current marketing year 2017/18 (-22% compared to the previous year). The International Grains Council increased its forecast of the global wheat harvest in the marketing year 2018/19 by 2 million tons to 739 million tons. Statscan today released the estimate of the Canadian wheat acreage in 2018. Analysts expect it to be in a range of 20.4 -24.5 million acres (2017: 22.997).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.
