Grain mail

In sympathy with the entire grain complex on the CBoT, the prices of wheat futures in Chicago also rose for the third trading day in a row yesterday. The USDA reported an export success for US wheat over 130,000 tons to an unknown recipient. The Russian agricultural advisor ICAR raised its forecast for the 2020 wheat harvest by 1 million tons to 82 million tons. In Ukraine, the Ministry of Economic Affairs and the country's grain exporters agreed to export only 17.5 million tonnes of wheat in the 2020/21 season. For now, the CBoT wheat futures can maintain their price levels from yesterday.
On the Paris Matif, wheat prices rose to an 18-day high. Technical buying and the rally in Chicago determined the course. The front month even made it to 185 € / to and thus 2.2% above the Friday rate. The September 20 date is thus rated almost as highly as the May 21 date. Britain is said to be facing the worst wheat harvest since 1980, according to a Guardian report. Other market reports are not exactly as bullish, say analysts with a view to the renewed increase in the harvest forecast in Russia. The result of an Algeria tender is eagerly awaited, as France, actually the home and yard supplier, has a bad harvest this year.

Hansa Terminhandel GmbH
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