Grain mail

Yesterday there was a course correction at the CBoT after the strong gains of the previous days. The price rise was arguably exaggerated and is being described as speculative by some traders this morning. Another highly valued Russian wheat crop ended the rally. Egypt wants to limit the extent of its subsidized poor food. This could reduce the import of wheat there.
At the moment the CBoT wheat future is trading more firmly again.
Wheat prices also fell on the Parisian Matif, which on Monday had risen to their highest level since the end of July. The options on the September Matif wheat future expired on Monday, which drove prices particularly strongly in the front month. The current price correction could be a reaction to the shift in sentiment in the CBoT corn future. In this country, traders are now waiting for the result of the Algeria tender. Most of the time France delivered. Since the wheat harvest in our neighboring country was smaller, other surplus regions from Europe could now come into play. According to the farmers' association, the German wheat harvest was below average.

Hansa Terminhandel GmbH
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