05.
09.18
06:24

grain mail

The wheat futures in Chicago were yesterday the weakest link in the agricultural complex and gave way to strong. For the time being, Russia will not impose export restrictions. The risk premium set up before the meeting between the Department of Agriculture and large grain traders for fear of export restrictions was cut back yesterday. In addition, the US dollar's fixed exchange rate is weighing on US exports. The weekly US export inspections, with 391,920 tonnes of wheat, were within market expectations of 350,000 - 550,000 tonnes. Institutional investors sold about 7,000 lots of CBoT SRW wheat yesterday.
At the moment, the eCBoT is trading at moderate premiums.
Negative overseas conditions also weighed on Euronext trading in Paris. In the meantime, the expiring front month September 18 and the most liquid maturity December 18 slipped below the 200 € mark. Argentina is planning a 10% tariff on wheat exports to limit the high public debt and depreciation of the peso. Yesterday after the close of trading, Egypt tendered a tender to buy an undisclosed quantity of wheat for the 21st to 30th October delivery period.

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