Grain mail

Weak financial markets as a result of the worsening Covid-19 pandemic, improved weather conditions in some major wheat-growing countries and heavy losses in the soy and corn complex caused wheat prices to close with losses yesterday in Chicago. At 2:30 p.m. today, the USDA publishes its weekly US export sales. Analysts expect wheat exports to range between 200,000 and 700,000 tons. Institutional investors sold 6,500 CBoT SRW wheat contracts yesterday. The electronic night exchange is trading almost unchanged this morning.
At Euronext in Paris, the wheat futures followed the weak targets from overseas and gave way on all dates during trading. At the end of the session, however, the market was able to recover somewhat and the closing prices were above the daily lows. There is still optimism in Germany that further export agreements will be concluded in the coming weeks as prices with competing exporters, especially in Russia, remain high. "Russia is still very expensive and Germany, the Baltic states and Poland could take the lead in new export sales in the coming weeks," said a German trader.

Hansa Terminhandel GmbH
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