26.
11.20
07:29

Grain mail

Technical selling and profit-taking ahead of today's holiday saw wheat futures close at heavy losses in Chicago yesterday. The prices for Kansas City and Minneapolis wheat also fell significantly. Institutional investors sold 14,500 CBoT SRW wheat contracts yesterday. Today, "Thanksgiving" is celebrated in the United States. Trading on the CBoT will therefore remain closed. It starts again tomorrow, Friday at 3:30 p.m.
The wheat futures on Euronext in Paris initially increased. The currently most liquid maturity March 21 rose to a two-week high, which at the same time corresponded to the previous contract high. In the course of trading, the futures in Paris then followed the negative specifications from overseas on all dates and gave way. The fixed exchange rate of the euro, which makes wheat from the euro area less competitive on the world market, put an additional strain on the market. The Russian consulting firm SovEcon yesterday raised its export forecast for wheat from the 2020 crop by 1 million tons to 40.8 million tons. In Germany, export optimism continues.On the cash market in Hamburg, the premiums for wheat with 12% protein for delivery in December remained unchanged high at 4.50 euros over Paris on March 21.

Source
Hansa Terminhandel GmbH
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