grain mail

Weak demand for US wheat in the export market and negative guidance from Kansas City and Minneapolis wheat caused wheat futures to close losses in Chicago yesterday for the third straight day. Russia does not currently intend to impose an export duty on wheat. This was repeated by a spokesman for the Ministry of Agriculture yesterday, as the market continues to speculate on export restrictions at a later date. The Ministry expects a result of 105 million tonnes for the current grain harvest in 2018. 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 sold about 3,500 lots of CBoT SRW wheat. This morning, the eCoT is slightly weaker. The wheat futures on Euronext in Paris followed the weak overseas guidance and yielded on all dates. Only the expiring Septembertermin showed positive signs. The increased exchange rate of the euro also weighed on the market. Saudi Arabia's state grain purchaser SAGO has tendered an international tender to purchase 1.02 million tonnes of feed barley for the November / December delivery period.

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