Grain mail

Good weather conditions in the US wheat-growing areas, weak financial markets as a result of the worsening Covid-19 pandemic and price losses in the soy and corn complex caused wheat prices to close at discounts for the fourth day in a row yesterday in Chicago. In the US plains, where HRW wheat sowing has just been completed, rainfall improved growing conditions. The weekly US export sales of 803,200 tons of US wheat were above market expectations of 200,000 - 700,000 tons. The International Grain Council yesterday raised its forecast for the global wheat harvest in the 2020/21 marketing year by 1 million tons to 764 million tons. Institutional investors sold 3,500 contracts of CBoT SRW wheat yesterday. The e-CBoT is trading almost unchanged this morning. At Euronext in Paris, the wheat futures were able to evade the negative requirements from overseas and closed with price increases on all dates. Bargain purchases following the recent drop in prices and the weaker exchange rate of the euro against the US dollar supported the market.Due to the high export prices for Russian wheat and the scarce French harvest, exporters from Germany, Poland and the Baltic states are hoping for good export business in November and December.

Hansa Terminhandel GmbH
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