14.
09.20
05:59

Grain mail

The wheat prices in Chicago were the weakest link in the agricultural complex on Friday and closed with losses. A bearish USDA report and technical selling weighed on prices. The USDA raised its forecast for global wheat stocks at the end of the 2020/21 season from 316.79 million tons to 319.37 million tons (forecast: 315.81) on Friday. The USDA estimated global wheat production at a record high of 770.5 million tons. The increased forecasts for Australia and Canada made a significant contribution to this. The USDA's forecast of US wheat end stocks for 2020/21 left it at 925 million bushels (expectation: 924 million bushels). With 484,400 tons of US wheat, US export sales were in line with market expectations of 250,000 - 600,000 tons. Institutional investors sold 6,000 lots of CBoT SRW wheat on Friday. This morning the e-CBoT is acting a little more firmly. The wheat futures on Euronext in Paris followed the negative specifications from overseas and closed all dates with losses. Traders are watching the effects of the African swine fever outbreak in Germany on the meat and feed grain markets. During the day, market participants expect results from the wheat tenders in Tunisia and Saudi Arabia.

Source
Hansa Terminhandel GmbH
Rückrufservice
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