The stock exchanges in the United States remained closed yesterday due to the US holiday Presidents Day. At the moment, the eCBoT is trading with strong premiums.
At Euronext in Paris, wheat futures ended the trading day with losses. The trading volume was low due to the lack of requirements from overseas. The euro exchange rate fell to a 3-year low yesterday, further improving the competitiveness of wheat from the euro area. Russia's wheat export prices fell for the third consecutive week last week due to strong global competition and recent declines in world market prices. EU soft wheat exports in the current marketing year 2019/20 reached a volume of 18.01 million tons as of February 16. The export volume is 70% above the level reached a year ago on February 10, 2019. The persistently mild weather in large parts of Europe reduces the ability of cereal crops to withstand potential cold spells. However, no frost hazards can be observed in the coming days, according to the EU service for the monitoring of crops.
Source
HANSA Terminhandel
