The spread of the corona virus and its impact on the global economy led to large losses in the commodities, energy and stock markets yesterday. Technical sales also weighed on wheat futures in Chicago. The weekly US export inspections of 411,523 tons of wheat were within the market expectations of 350,000 - 600,000 tons. Institutional investors sold 15,000 contracts of CBoT SRW wheat yesterday. This morning the eCBoT is moderately firmer. At Euronext in Paris, the wheat futures followed the negative overseas guidelines on all dates and also closed significantly weaker. EU soft wheat exports in the current marketing period 2019/20 reached a volume of 18.72 million tons as of February 23 (+ 64% on the previous year). The price of Russian export wheat with 12.5% protein loaded at Black Sea ports was $ 218 / ton FOB at the end of last week, $ 2 lower than the previous week. Saudi Arabia's grain purchaser SAGO bought 715,000 tons of wheat of optional origin for delivery in April and June. European traders hope that they will be able to supply a large proportion of the quantity, which consists of 12 partial quantities with 55,000 -60,000 tons.
Source
HANSA Terminhandel
