grain mail

Technical purchases and portfolio coverings by fund companies caused wheat prices to close slightly in Chicago yesterday. A delayed winter wheat sowing in the US also gave a boost. The USDA reported last night that 72% of US winter wheat is seeded. However, analysts expected a sowing of 76%.
The e-CBoT is trading the wheat weaker by the hour.
Wheat futures at Euronext in Paris also managed to keep the € 200 mark on the December 18 deadline yesterday. One wonders how much longer. Especially as Russia's crop estimates and thus the export surplus rise again. Traders are waiting today for the result of the international call for tenders from Algeria. The lowest bid was around $ 260 / to c & f, close to the prices demanded by France. The state buyer OAIC hoped to buy 5-6 USD / ton cheaper. As the harvesting work is going on in Argentina, a lower supply could come from there. Russian wheat is not allowed in this tender. In Germany, feed grain dominates the market, which is more expensive than export wheat. Low water on the Rhine continues to hinder the transport of raw materials.

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