Grain mail

Technical purchases and positive specifications for Kansas City and Minneapolis wheat caused the wheat prices to close with markups yesterday in Chicago. The December contract rose in nine of the last ten sessions. At 2:30 p.m. today, the USDA publishes its weekly US export sales. Market analysts expect exports to be in the range of 400,000 - 700,000 tons of wheat. Jordan's state grain buyer yesterday bought 60,000 tons of durum wheat of optional origin as part of an international tender process. Institutional investors buy 5,000 contracts of CBoT SRW wheat. The e-CBoT is trading slightly tighter this morning.
At Euronext in Paris, the wheat futures could not benefit from the improved targets from overseas and closed with losses. The French agricultural consultancy Agritel estimates the French wheat harvest in 2020 at 29.2 million tons. In 2019, 39.5 million tons of wheat were harvested. France's wheat exports in the current 2020/21 season could therefore fall from 20.9 million tons (2019/20 season) to 13.0 million tons. Agritel expects a sharp decline in exports to Algeria and Russia. These markets are probably primarily served by Russia and Ukraine.

Hansa Terminhandel GmbH
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