US wheat futures ended Friday trading day at a loss as a result of the global impact of the corona virus on the global economy. Crude oil futures and global equity markets also saw heavy losses. The most liquid wheat future May 20 dropped to its lowest level since November 18. The weekly loss was 4.9%. The fall in prices was limited by short covers and bargain purchases at the end of the week and month. Institutional investors sold 2,500 contracts of CBoT SRW wheat on Friday. This morning the eCBoT is trading slightly weaker. The wheat futures at Euronext in Paris followed the negative guidelines from overseas and closed at all dates with losses. The sell-off in the financial markets has focused on the lively export demand for Western European wheat, which has supported prices in recent weeks. The state of winter wheat stocks in France deteriorated moderately. As of February 24, 64% of the holdings received the highest rating "good to excellent". In the previous week the proportion was 65% and 85% a year ago.On the cash market in Hamburg, premiums for export wheat with 12% protein for delivery in April fell by 1.00 euros to 4.50 euros via Paris May 20.
Source
HANSA Terminhandel
