Grains - Grain Products

Wheat: slight pressure on sales in Western Europe

January 28, 2020 11:32 AM, Der AUDITOR
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FRANKFURT. The wheat market was only slightly firmer in the USA. In Paris and the Black Sea Region, prices declined. However, fears of a global economic slowdown and the risks associated with the coronavirus in China and other Asian countries clouded the market.

In Chicago, wheat was trading at USD 5.70 per bushel, a good 5 cents stronger than yesterday. In Paris, wheat fell by EUR 1.25 to EUR 194.25 per metric tonne. On the Black Sea, the February date fell by USD 0.75 to USD 230.75 per metric tonne. In Chicago, wheat investors went long on wheat because they expect higher demand for US wheat after China's New Year celebrations, Australia is quite a potential wheat supplier and Russia has limited grain exports. Last week there were confirmed purchases of 150,000 metric tonnes of Australian wheat to China, with Beijing allegedly buyi

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