Wheat prices in Chicgao were the weakest link in the agricultural complex yesterday and suffered slight losses. Spread activity on soybeans and corn weighed on the market. However, support came from rising financial markets and the much weaker euro / dollar exchange rate. The weekly US export inspections of 654,097 tons of wheat were above the market expectations of 350,000 - 600,000 tons. Institutional investors sold 3,500 contracts of CBoT SRW wheat yesterday. At the moment, the eCBoT is trading slightly weaker. The wheat futures at Euronext in Paris followed the negative guidelines from overseas and closed on all dates with moderate discounts. The sharp rise in the euro also burdened the market because it worsened the competitiveness of wheat from the euro area. Wheat export prices in Russia fell for the fifth consecutive week last week due to the fall in Chicago and the weak ruble exchange rate. Russian wheat with a protein content of 12.5% loaded in Black Sea ports dropped $ 4 to $ 214 a ton FOB at the end of last week, SovEcon said. EU soft wheat exports reached a volume of 19.11 million in the current marketing year 2019/20Tons (+ 60% on the previous year).
Source
HANSA Terminhandel
