Grain mail

Strong export competition on the world market, falling prices in Russia, price losses in the soy and corn complex and a lack of supportive news caused wheat prices to close yesterday in Chicago at discounts. The USDA reported Monday evening that the US spring wheat harvest was 92% complete, which is the 5-year average. The winter wheat sowing for the 2021 harvest has been completed on 10% of the planned areas. Analysts were expecting sowing progress of 13%, the 5-year average is 8%. Institutional investors sold 7,500 contracts of CBoT SRW wheat yesterday. The electronic night exchange is trading at further losses this morning.
At Euronext in Paris, the wheat futures followed the negative guidelines from overseas and recorded losses on all dates. The French Ministry of Agriculture reduced its monthly forecast for this year's wheat harvest from 29.7 million tons to 29.5 million tons. Saudi Arabia's purchase of 745,000 tons of wheat is mainly served from Poland and the Baltic states, according to traders.

Hansa Terminhandel GmbH
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