22.
08.18
06:28

grain mail

The wheat futures in Chicago ended yesterday's trading day with losses of more than 2%. Statements by the Russian Ministry of Agriculture dampened speculation about possible export restrictions. The forecast of the Russian grain harvest in 2018 increased the Ministry of Agriculture from originally 100 million tons to 100 to 105 million tons. The harvest therefore fully covers domestic demand and also includes a significant amount of grain for export. The RIA news agency said a Ministry spokesman said that there is currently no reason for the introduction of a wheat export tax. Russia's export policy is currently difficult to assess for market participants. Institutional investors responded with long liquidations and sold about 8,000 lots of CBoT SRW wheat. The electronic night market is firmer this morning. At Euronext in Paris, wheat futures followed weak overseas guidance and also closed with heavy losses. Predictions of precipitation in parts of eastern Australia and the anticipated record corn harvest in the United States and Ukraine calmed wheat prices. The rise in the exchange rate of the euro against the US dollar also clouded sentiment.

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