Grain mail

Price gains in the soy and corn complex and positive targets from Kansas City and Minneapolis wheat caused the wheat prices to close with markups yesterday in Chicago. However, the good global supply situation limited the price increase. With 367,800 tons of wheat, the weekly US export sales were in line with market expectations of 250,000 - 800,000 tons. Institutional investors bought 5,000 contracts of CBoT SRW wheat yesterday. This morning the e-CBoT is acting a little weaker.
The wheat futures on Euronext in Paris followed the positive specifications from overseas and increased slightly on the dates of the 2020/21 harvest. The follow-up dates for the 2021/22 harvest, however, closed unchanged. The agricultural consultancy Strategy Grains lowered its forecast of the common wheat harvest in the EU plus Great Britain to 128 million tons. That would be 13% less than in 2019 (147.2 million tons). The poor harvests in France and south-east Europe could only be partially compensated for by larger harvests in Poland and the Baltic countries. Egypt's state grain buyer GASC yesterday bought 415,000 tonnes of wheat from Russia for the delivery period October 1-10 as part of an international tender process.

Hansa Terminhandel GmbH
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