02.
11.20
07:12

Grain mail

Improved weather conditions, profit-taking after the highs of the previous week, spread activities from the front month to later dates and closeouts at the end of the month or before the US presidential elections put the wheat futures in Chicago under further pressure on Friday. In a weekly comparison, the front month of December lost 5.4% in value. Winter wheat sowing has been completed in the HRW growing areas. Institutional investors sold 4,000 contracts of CBoT SRW wheat on Friday. At the moment the eCBoT is trading with further losses. The wheat futures on Euronext in Paris were able to escape the negative targets from overseas and closed with slight gains on all dates. The market has lost some of its upward momentum, however, after rising to a high of 214 euros in the previous week due to the drought in important producing regions of the northern hemisphere. Concerns about the impact of a surge in COVID-19 infections on the global economy, as well as much-needed rainfall in some areas, have led to a sell-off in recent days. Sellers believe Euronext's weakness is unjustified given strong export demand for wheat from the EU as Black Sea prices remain highare.

Source
Hansa Terminhandel GmbH
Rückrufservice
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