Technical purchases and short covers, as well as positioning ahead of tomorrow's USDA report, put the wheat futures moderately firmer after two days of losses yesterday in Chicago. Reports of precipitation in major growing regions in Australia, the Black Sea region and the US plains limited the increase. Institutional investors yesterday bought 3,000 lots of CBoT SRW wheat. The eCBoT is weaker this morning.
At Euronext in Paris, wheat futures benefited from the good overseas and weak euro and closed with all profits except for the May maturity 18 on all dates. In the course of trading, the highest level since October 9 was reached again on the December due date (as on Friday). Due to the holiday in France, the trade was pretty quiet. The European Commission yesterday published EU wheat exports 2017/18 on 7 May. They reached a volume of 17.2 million tonnes. This is a decrease of 21% compared to the previous year, when at the same time 21.8 million tons of wheat were already exported. On the cash market in Hamburg, wheat quotations with 12% protein for delivery in May remained unchanged at 4 € over May 18.Offers for the new harvest for delivery in September quoted 1 € under Paris September 18.
