grain mail

Technical sales, slowing export demand for US wheat, negative guidance from Kansas City and Minneapolis wheat, as well as a strong US dollar led to significant losses in wheat prices yesterday in Chicago. Today at 2.30pm, the USDA releases new US export sales. Analysts expect wheat exports in a range of 200,000 - 500,000 tons. Institutional investors yesterday sold 7,000 lots of CBoT SRW wheat.
At the moment, the eCBoT is even weaker.
Wheat futures on Euronext in Paris managed to hold up well despite negative overseas sentiment and closed with only modest losses. The weak euro against the US dollar supported the market. The 200-euro mark also lasted yesterday. In addition, Algeria bought between 500,000 and 600,000 tons of wheat, of which probably the largest amount of France is supplied. Tunisia also reported grain purchases totaling 250,000 tonnes, probably from Black Sea countries. The price difference between the two tenders is only $ 3 / tonne, which shows us that France also has good export prospects in the further course.

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