Grain mail

The wheat futures in Chicago were able to maintain their upward trend on Friday and closed with profits for the seventh day in a row. Frost has damaged wheat stocks in Argentina and increased stress from the persistent drought, the Buenos Aires Grain Exchange announced on Thursday. The US dollar gained on Friday, but is still near lows that have not been seen since May 2018, which improves the export chances of US wheat in the world market. Institutional investors bought 4,500 contracts of CBoT SRW wheat on Friday. At the moment the eCBoT is trading with moderate losses. The wheat futures at Euronext in Paris followed the good specifications from overseas and posted good premiums on all dates. The Russian agricultural consultancy firm SovEcon increased its forecast of the 2020 wheat harvest, which is currently published weekly, from 80.9 million tons to 81.2 million tons. The much smaller French harvest this summer limits the flow of exports from France, including Algeria. The French market is, however, supported by the steady Chinese demand.

Hansa Terminhandel GmbH
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