Grain mail

Profit-taking after the strong price gains of the previous days caused the wheat futures to close with significant losses yesterday in Chicago. The front month of December 20, which the day before had reached the highest price level in more than five years, lost 1.9% of its value yesterday. The weekly US export sales of 568,100 tons of US wheat were in line with market expectations of 250,000 - 600,000 tons. Today at 6 p.m. the USDA publishes its monthly WASDE report. Institutional investors sold 11,000 contracts of CBoT SRW wheat yesterday. At the moment the electronic night exchange trades more firmly. In the wake of the negative targets from overseas, the wheat futures on Euronext in Paris also saw discounts on all dates. The front month of December closed again below the 200 euro mark. Although weather services for the wheat growing regions in the US, Russia and Argentina expect little rain in the next two weeks, traders said profit-taking was made after the rally. In Germany, the export sentiment is positive because exporters are running a large loading program, especially to Algeria, and see scope for more demand from Great Britain.

Hansa Terminhandel GmbH
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