Grain mail

The fixed exchange rate of the US dollar, which is cooling demand for export wheat from the United States and thus reducing export opportunities on the world market, weighed on the wheat futures in Chicago on Friday. In a weekly comparison, the front month of December 20 lost 5.4% in value. Institutional investors sold 6,500 contracts of CBoT SRW wheat. This morning the e-CBoT is trading almost unchanged. The market consolidated at Euronext in Paris. After the 5-month high at the beginning of the week, traders no longer assessed the export outlook for European wheat as positive, so that the prices slide to a 1-week low on Thursday. The losses were limited by the stronger exchange rate of the euro. Recently, prices in this country rose as a result of the steady international demand and the rising Russian wheat prices. Export activities in France remained low after the small harvest in the summer, with the exception of a continued flow of transport to China. In Germany and elsewhere along the Baltic Sea, however, active exports continued, in part to replace French deliveries to Algeria. Showers and cooler weather across France since the middle of the week have improved the prospects for the upcoming wheat sowing after the drought.

Hansa Terminhandel GmbH
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