Buying activity following the losses of recent days saw wheat futures close slightly in Chicago yesterday in Chicago. Improved weather conditions in the drought-plagued US plains limited the upside potential. The USDA rated 36% of the top-rated field "good-to-excellent" on May 14 (previous week: 34%). Institutional investors bought 2,500 lots of CBoT SRW wheat yesterday. The eCBoT is trading a bit firmer this morning. At Euronext in Paris, wheat futures closed almost unchanged. The euro exchange rate fell to its lowest level this year, improving the competitiveness of euro area wheat in the export market. Yesterday Egypt bought some 60,000 tons of wheat of Ukrainian origin for the 15.6 delivery period. - 25.6. for the price of $ 219.90 / ton FOB. France's Ministry of Agriculture reduced the mtl. Estimated wheat acreage this year from 4.98 million hectares to 4.95 million hectares. Compared to the 5-year average, this would be a return of 1.9%. The German winter wheat acreage for the 2018 harvest has been reduced by 5.6% according to the Federal Statistical Office and is now 2.95 million hectares.At the cash market in Hamburg, the quotes for standard wheat with 12% protein for delivery in May rose by € 1 to € 4 under Paris December 18.
