Grain mail

Short cover from fund companies, the weaker exchange rate of the US dollar and price increases in the soy and corn complex caused wheat futures to close at moderate premium yesterday in Chicago. The weekly US export inspections of 325,948 tons of wheat were in line with market expectations of 275,000 - 600,000 tons. Institutional investors bought 1,500 contracts of CBoT SRW wheat yesterday. This morning the e-CBoT is trading more firmly again. The wheat futures on Euronext in Paris could no longer follow the late premiums from overseas and closed with losses on all dates. In the course of trading, the front month of December slipped to its lowest price since November 9th. The supply pressure from the Australian harvest counteracts the still very strong international demand, reports the consultancy Agritel. Russian wheat export prices rose for the second week in a row. Russian export wheat with a protein content of 12.5% from the ports on the Black Sea was at 254 USD per tonne of FOB at the end of last week, an increase of 1 USD compared to the previous week, said the consulting firms IKAR and Sovecon.On the cash market in Hamburg, the premiums for wheat with 12% protein for delivery in November remained at 3.50 euros via Paris December 20.

Hansa Terminhandel GmbH
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