The wheat futures in Chicago ended yesterday's trading day with minimal markups. Traders closed short positions after the market last traded at its lowest level in nearly 3 weeks. Support came from Minneapolis summer wheat, where sowing is delayed due to cold soil temperatures. Weak demand for US wheat, both domestically and globally, limited the upside potential. Today at 14:30, the USDA publishes weekly US export sales. Analysts expect wheat exports in a range of 100,000 to 500,000 tons. Institutional investors yesterday sold 1,500 lots of CBoT SRW wheat. At the moment the eCBoT is firmer. At Euronext in Paris, the wheat futures rallied from the 2-week low this week and also ended the trading day with gains. The December 18 appointment was able to overcome the recently torn support line of 174 euros. The weak euro supported the price increase. The increase was limited by the friendly weather in Europe. At the cash market in Hamburg, the quotes for standard wheat with 12% protein for delivery in May increased by € 0.50 to € 3.50 under Paris December 18.
