Strong demand supports wheat prices at a high level

Active wheat exports major producing countries confirms the willingness of importers to pay high prices to purchase the necessary volumes, despite a significant number of proposals on the world market.

Russia for a week has increased export of wheat by 29% to 1.4 million tons due to shipping to Egypt, and since the beginning of the season exported 12.6 million tonnes of wheat, which is 3% higher than the corresponding figure last year.

Canada for the week increased exports of wheat by 19% to 375 thousand tonnes, and in General in 2020/21 MG shipped 3.2 million tonnes, which is 31% higher than last year's pace.

the week USA increased exports of wheat by 37% to 647 thousand tons, and from the beginning of the season to 8.79 million tonnes, which is 4% higher than the corresponding figure 2019

Ukraine per week reduced the export of wheat by 23% to 661 thousand tonnes, shipped in the season of 8.6 million tonnes, which is 2% below last year's pace and is half of the agreed for the current season exports.

Despite the sharp rise in prices of wheat of the black sea Russia is the leader in supplying wheat to the world market, and the increase in forecasts of production and exports soon will increase pressure on prices of black sea wheat.

the Experts of Rusagrotrans increased the forecast of wheat production in Russia by 0.9 million tons from 82,8 to 83.7 million tonnes, only 2.4 million tonnes will yield a record 86 million tonnes collected in 2017.

December futures black sea wheat in the U.S. declined on Friday by 0.2% to 236 $/t, which almost corresponds to the level of prices on physical markets, which constitute 235-240 $/t FOB.

In Ukraine, purchasing prices for wheat on the background of declining export demand dropped in the port to 7400-7500 UAH/t or 215-218 $/t. Precipitation that took place all over the country will accelerate the pace of sowing winter wheat and reduce anxiety regarding the fate of the next harvest.

the Chicago stock Exchange ended Friday on speculative buying by the background of long-term complications of sowing winter wheat in Ukraine and Russia.

December futures U.S.:

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at 1.10 $/t to 187,21 $/t for solid winter HRW wheat in Kansas city.

• at 1.10 $/t to 210,63 $/t for SRW soft winter-wheat in Chicago

-0.64 $/t to 195,38 $/t hard spring HRS wheat in Minneapolis.

the price of wheat in Paris after the updates on Wednesday 2-year high gradually continue to fall, but their support problems with the sowing of winter crops in Ukraine and Russia, drought in Argentina and strong demand for French wheat from China.

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• December futures for milling wheat on MATIF fell by 0.25 €/t to 196,75 €/t or 230,50 $/t