30.
08.18
06:26

grain mail

Technical purchases as well as resurgent rumors of possible export restrictions in Russia led the wheat futures to close yesterday in Chicago with hefty mark-ups. The Russian Ministry of Agriculture will revalue weekly wheat exports due to the weak harvest this year and intends to limit exports to a volume of 30 million tons. Measures could be taken from a volume of 25 million tonnes. Traders expect exports to reach this threshold in December. Overall, the situation is uncertain and the markets do not like uncertainty. This afternoon, the USDA publishes weekly US export sales. Analysts expect wheat exports in a range of 200,000 - 500,000 tons. Institutional investors yesterday bought about 11,000 lots of CBoT SRW wheat. The eCBoT is trading with other serves this morning. At Euronext in Paris, wheat futures benefited from the good overseas guidance and closed on all dates with significant gains. The weaker exchange rate of the euro additionally favored the development. Romania expects a wheat harvest of 10.2 million tonnes this year. Last year, 9.9 millionTons of wheat harvested on an area of ​​2 million hectares, an increase of 17% to the 2016 harvest.

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