Technical buys and shorts from fund companies over the weekend and before the start of the Kansas City Crop tour saw price gains at Friday's wheat futures in Chicago. The Canadian statistics agency Statscan published the first crop acreage for the 2018 harvest on Friday afternoon. Wheat is grown on an area of 25.3 million acres (+ 12.8% yoy). Institutional investors bought 6,000 lots of CBoT SRW wheat on Friday. The eCBoT is trading with other serves this morning. At the Euronext in Paris, the wheat futures unevenly closed. The euro exchange rate against the US dollar fell to its lowest level since mid-January. In the Black Sea region, dry weather is expected in the next 2 weeks, which could stress the grain stocks. Algeria bought 420,000 tons of wheat for delivery in July. Market participants believe that the lion's share comes from France. In France, logistics problems continue due to the railway strike and the dockers' strike and are continuing to increase. At the cash market in Hamburg, the quotations for wheat with 12.5% protein remained unchanged at € 4.50 over Paris May 18.Quotes for fodder wheat are further above, at 178 €.
