grain mail

Fund shortcuts and the weaker US dollar exchange rate, as well as soya and corn price increases, led to moderate price gains for wheat futures in Chicago yesterday. The exchange rate of the US dollar, which rose to a two-week high the day before, lost after a speech by US Federal Reserve Chairman Powell, which suggested that interest rates could rise less rapidly. Institutional investors yesterday bought about 5,000 lots of CBoT SRW wheat. This afternoon at 2.30pm, the USDA publishes weekly US export sales. Analysts expect wheat exports in a range of 250,000 - 500,000 tons. At the moment the eCBoT is firmer again. At the Euronext in Paris, the wheat futures followed the good overseas guidance and were able to grow on all dates. Algeria bought 600,000 tonnes of wheat of optional origin on Tuesday. Traders believe that the order is mainly filled with wheat from Argentina. In addition, wheat from Uruguay and France should have the greatest chance of being considered. On the cash market in Hamburg, the quotes for wheat with 12% protein for delivery in December fell by 50 cents to 3.50 over Paris December 18.

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