23.
10.20
06:28

Grain mail

Technical sales drove wheat prices lower in Chicago yesterday. The weekly export figures of 367,500 tons of US wheat were in line with market expectations of 200,000 - 800,000 tons. Institutional investors sold 5,000 contracts of CBoT SRW wheat yesterday.
The electronic night exchange is trading moderately firmer this morning.
At Euronext in Paris, the wheat futures followed the negative specifications from overseas on all dates and also posted losses. On Tuesday, the December 20 futures contract recorded an all-time high of € 214 / ton. Traders are currently focusing on weather reports for the wheat growing regions in the US and the Black Sea region. It is far too dry there for the plants to develop. There is no change in weather in sight until the end of October, which could mean that winter crops don't develop well enough before the cold season. Algeria bought 720,000 tons of wheat yesterday. The suppliers will again be France and Northern European countries. Russian wheat is currently too expensive. Buyers in Algeria had hoped that lower quality standards could lead to more competition between suppliers.

Source
Hansa Terminhandel GmbH
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