grain mail

The wheat futures in Chicago closed yesterday with heavy losses. Precipitation, which creates good conditions for winter wheat sowing, and the fixed exchange rate of the US dollar, put pressure on prices. Institutional investors yesterday sold 6,000 lots of CBoT SRW wheat. This afternoon, the USDA publishes weekly US export sales. Analysts expect wheat exports in a range of 200,000 - 500,000 tons. For the next 5 days meteorologists expect precipitation in the Northern Plains, which should lead to undercuts in the summer wheat harvest. The eCBoT trades this morning with significant markups. At Euronext in Paris, wheat futures followed weak overseas guidance and closed moderately on all dates. The weak exchange rate of the euro against the US dollar prevented higher losses. Recent tenders have shown that wheat from Europe and the United States is not sufficiently competitive against wheat from Russia and the Black Sea region. Egypt recently bought 420,000 tonnes of wheat from Russia and Romania. The only offer from France was over $ 22 more expensive (FOB) than the cheapest offer from Russia.

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