17.
08.20
06:06

Grain mail

Wheat prices in Chicago rose moderately on Friday. Technical purchases due to the rise in corn prices as well as short coverages from fund companies gave the boost. However, weak export demand for US wheat limited profits. Institutional investors bought 3,500 lots of CBoT SRW wheat. The Turkish grain board TMO has issued a series of international tenders for the purchase of wheat (red, hard and durum). Traders are concerned about how big the impact a drought in Argentina can have on the world market price for wheat. This morning the e-CBoT is trading at further premiums.
At Euronext in Paris, wheat futures were able to benefit from the improved targets from overseas on all dates and closed at their two-week high. Traders are currently using spreads and options, which supports the price increase. At the beginning of last week, the Matif wheat future was still trading at its lowest level since mid-March because the harvest estimates in Russia were raised. In the meantime, the Russians have landed large export orders. In this country, the 2020 grain harvest is about to end.

Source
Hansa Terminhandel GmbH
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