Grains - Grain Products

Wheat: Egypt announces new tender

February 11, 2020 11:37 AM, Der AUDITOR
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FRANKFURT. The wheat market was weaker in the USA and on the Black Sea, but firmer in Western Europe. Egypt announced a new wheat tender, with wheat from the Black Sea Region potentially becoming more competitive again, but France and Romania are benefiting from an even weaker euro exchange rate. With the WASDE report, the USDA could lower the high export forecast for Russian wheat.

In Chicago, wheat was quoted at just under USD 5.50 per bushel in the morning, which is 6 cents lower than yesterday. In Paris, wheat increased by EUR 1.50 to EUR 194.75 per metric tonne, while on the Black Sea, the February date fell by 0.50 cent to USD 224.50 per metric tonne. In the US, in view of tonight's WASDE report, the question focused on whether the USDA would maintain or lower the high forecast for Russia's wheat exports of 34 million metric tonnes. According to trade, the forecast is too high because the Russian Federation exported only 22.5 million metric tonnes

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