Grain mail

Wheat futures in Chicago rose sharply last night after the USDA report was released. The US Department of Agriculture published the November WASDE report at 6:00 p.m. German time. In it, the agency reduced its estimate of the US wheat stocks at the end of the 2020/21 season to 877 million bushels after the last 883 million bushels. Analysts expected a reduction to 881 million bushels. The estimate of the global end of wheat stocks in 2020/21 was 320.45 million tons, in line with market expectations. Institutional investors bought 9,000 contracts of CBoT SRW wheat yesterday. This morning the e-CBoT is trading more firmly.
At Euronext in Paris, wheat futures were able to benefit from the positive indicators after the figures were published in the USA and prices rose to a 3-week high. Wheat futures gained in the course of the day, supported by lively export demand. Algeria, the largest overseas wheat market from the European Union, announced a new import tender to buy a nominal 50,000 tons of wheat. At the cash market in Hamburg, the premiums for wheat with 12% protein for delivery in November rose to EUR 2.00 via Paris December 20.

Hansa Terminhandel GmbH
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