28.
08.20
06:33

Grain mail

Technical purchases, good US exports and price increases in the soy and corn complex caused the wheat futures to close on a four-month high in Chicago yesterday. The weekly US export sales of 776,000 tons of US wheat were above market expectations of 400,000 - 700,000 tons. Institutional investors bought 10,000 lots of CBoT SRW wheat yesterday. This morning the e-CBoT is trading at another moderate premium. The wheat futures on Euronext in Paris followed the positive indications from overseas and climbed to a 5-week high. The International Grain Council (IGC) yesterday increased its forecast for global wheat production in the 2020/21 season by 1 million tons to 763 million tons. The increase was due to upward revisions for Russia (79.9 million tons from 78 million) and Australia (27.5 million tons from 26.2 million). In Germany, strong domestic demand helps to offset lower prices on the export markets of the competing export countries in the Baltic Sea region. The Baltic states, including Lithuania, had excellent wheat harvests this summer and exports are strong. The prices for wheat with 12.5% protein are around 9 euros per ton below those in Germany.

Source
Hansa Terminhandel GmbH
Rückrufservice
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