grain mail

Technical sales and the outlook for much-needed rains in Russia caused losses at Friday wheat futures in Chicago. In a weekly comparison, the price rose by 2% due to the weak global supply situation. That was the biggest weekly win in seven weeks. Institutional investors sold about 3,000 lots of CBoT SRW wheat on Friday. The eCBoT trades this morning with further losses. At Euronext in Paris, the wheat futures followed the negative overseas guidance and eased somewhat on all dates. The weaker exchange rate of the euro limited the decline. In a weekly comparison, Euronext wheat futures also gained 2%. Precipitation forecasts for northern France and other regions in the EU improve the conditions for winter cereal sowing. The agricultural consultancy IKAR reduced the forecast of Russian wheat production in 2018 from 69.6 million tons to 69.2 million tons. SovEcon reduced the export forecast for 2018/19 from 33.9 million tons to 33 million tons. Australia announced the first export business for the new crop of 50,000 tons to Thailand. On the cash market in Hamburg, the quotations for export wheat with 12% protein for delivery in September fell to 2.50 euros over Paris December 18.

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