Grains - Grain Products

Wheat: markets tend to be weak

March 6, 2020 11:23 AM, Der AUDITOR
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FRANKFURT. The wheat markets are tending to be weak due to concerns about the spread of the coronavirus epidemic. Traders expect temporary drops in demand, either for logistical or economic reasons. Higher wheat crops in the coming season in Russia, India and Australia also indicate lower prices.

The wheat markets declined towards the weekend. SRW wheat was 1 cent weaker in Chicago at USD 5.20 per bushel and 25 cents weaker in the Black Sea region at USD 211.25 per metric tonne. Only EU wheat was able to consolidate in Paris by 75 cents to EUR 188 per metric tonne. This went against the trend on the Western European spot market, where milling wheat in France, on the Rhine and in Hamburg fell by EUR 1.00 per metric tonne. In France and Germany, wheat field supplies are so good after the rain in winter that mills and concentrated feed plants see no reason to stock up on new crops

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