29.
08.18
06:29

grain mail

At almost unchanged levels, wheat futures in Chicago ended the trading day. Technical purchases after six consecutive losses with losses initially provided support. However, negative guidance from the soya and corn complex later weighed on prices. Egypt's GASC announced the purchase of 350,000 tonnes of wheat for the 11.-20. October. 290,000 tons of wheat were purchased in Russia and 60,000 tons in Ukraine. For the upcoming winter wheat sowing, US farmers are planning to increase their acreage by 2.6% to 33.6 million acres. Total wheat acreage in 2019 could increase by 1% to 48.3 million acres. At the moment, the eCBoT is moderately firmer. At the Euronext in Paris, the wheat futures could not hold the initial gains and closed with losses. Only the expiring front month of September was able to hold its own. The agricultural consultancy IKAR reduced its forecast of Russian wheat production from 70.8 million tons to 69.6 million tons. The forecast for wheat exports in the marketing year 2018/19 remained unchanged at 32.5 million tonnes. India's farmers brought in a record harvest of 99.7 million tonnes of wheat in 2018 (previous year: 98.61 million tonnes).

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