Grain mail

Wheat prices in Chicago were the weakest link in the agricultural complex on Friday and prices closed inconsistently. The months ahead were negatively impacted by profit-taking and higher-than-expected world wheat stocks. The USDA estimated world stocks on Friday at 321.45 million tons after the last 319.37 million tons. Analysts even anticipated a reduction to 317.23 million tons in advance. Institutional investors sold 2,000 contracts of CBoT SRW wheat on Friday.
The eCBoT is trading the wheat more firmly this morning.
Wheat futures on Euronext in Paris were able to recover from their daily losses at the close of trading and closed with spreads. Dry weather conditions in Russia could lead to a 10% - 15% reduction in winter wheat acreage, according to the Russian agricultural consultancy SovEcon on Friday. The December 2020 contract in Paris reached its highest price in a weather market-stressed trade of € 202.25 / ton and it was also the highest price in a front month future for five years. French traders point to a high risk for winter wheat after heavy rains since the end of September have been oversaturating the soil with water.

Hansa Terminhandel GmbH
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