grain mail

Weak demand for US wheat on the world market, technical sales and a strong US dollar again led to significant losses in wheat prices yesterday in Chicago. The weekly export figures of 442,600 tons of US wheat for the marketing year 2018/2019 were within the market expectations of 200,000 - 500,000 tons. Funds sold 10,000 lots of CBoT SRW wheat yesterday.
This morning, the electronic night market can stabilize and acts with surcharges.
At Euronext in pairs, the wheat futures on all dates followed the negative overseas guidance and closed with comparatively moderate losses. The weak euro against the US dollar prevented higher haircuts. On the front month at the Paris Matif the 200 mark was fallen again. Yesterday, the International Grains Council (IGC) raised its estimate for the World Wheat Harvest 2018/19 by 12 million tons to 729 million tons. Mainly the higher number is due to a better harvest in China. By contrast, the EU lowered its harvest estimate from 128.4 to 127.4 million tonnes of common wheat.

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