07.
10.20
06:16

Grain mail

The wheat futures in Chicago closed yesterday at their highest level in more than five years. Dry weather conditions in large parts of the US, Argentina and the Black Sea region, price increases in the soy and corn complex, as well as short coverings and technical purchases supported the market. Profit-taking towards the end of the session pushed the prices below the highs reached during trading. Institutional investors bought 7,500 contracts of CBoT SRW wheat yesterday. This morning the e-CBoT is trading at moderate discounts.
The wheat futures on Euronext in Paris benefited from the good specifications from overseas and increased on all dates. The December 20 contract exceeded the 200 euros / ton mark. The dry sowing conditions in Russia and the US plains once again supported a sharp rise in Russian wheat prices. Some traders believe that the rise on Euronext may be exaggerated given the firm euro and the assumption that Algeria will not put out a wheat tender in November. The price increase in Russia and the Baltic states increases the export prospects of Germany and Poland. In Western Europe, the rain has improved the conditions for sowing winter crops.

Source
Hansa Terminhandel GmbH
Rückrufservice
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