Grain mail

Technical purchases and excessively dry weather conditions in large parts of Russia and other important growing countries caused the wheat prices to close with markups on Friday in Chicago. The stock market was particularly impacted by the news that US President Trump had tested positive for the corona virus. In a weekly comparison, the front month of December 20 rose by 29 cents or 5.3%. Institutional investors bought 4,000 contracts of CBoT SRW wheat on Friday. The eCBoT is also showing positive signs this morning.
At Euronext in Paris, the wheat futures recovered from their initial losses on Friday evening as a result of the improved requirements from overseas and closed inconsistently. The Russian agricultural consultancy SovEcon increased its forecast of Russian wheat exports in the 2020/21 marketing year by 1.7 million tons to 38.9 million tons. The northern parts of the Russian wheat belt are expected to rain next week, but the rest of the area could remain dry for the next two weeks, over "poor growing conditions," reports the Commodity Weather Group. Russia could announce details of a possible grain export quota for the first half of next year in the middle of this month.

Hansa Terminhandel GmbH
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