Actively supports export prices for black sea wheat at a high level
the decline of the wheat crop in the EU, particularly in France, most buyers are European wheat became interested in the black sea. The increased demand has led prices to rise to levels that become too high for Asian importers, who started to give preference to Australian and U.S. wheat.
Ukraine 2020/21 MG as of September 9, exported 5.89 million tons of wheat that almost matches last year's level. Russia as of September 3, exported 7.2 million tons of wheat, which is 10.9% below the corresponding period last year.
bid Prices of black sea wheat over the week grew by 5-6 $/t to 220-222 $/t FOB due to the active demand and the containment of sales producers in Ukraine and Russia, but further growth is limited by the demand price level 215-218 $/t FOB.
the results of the last tenders also support prices for black sea wheat.
Public operator Jordan bought the company Nibulon 60 thousand tons of Ukrainian wheat with protein 11% and for October delivery at a price 252,6 $/t CFR.
Pakistan gave 60 thousand tons of Russian wheat with protein 11.5% and for October delivery at a price of 248 $/t CFR.
Global prices of wheat were waiting for the updated balance of the USDA, which can increase the production forecasts for Russia, Canada and Australia, however, traders can't estimate how much.
Yesterday in USA quotes of winter wheat recovered somewhat after Friday's drop, but the fundamental factors do not exist. On the world wheat market is a tough competition, and this situation will continue in the future.
the September wheat futures in the U.S.:
the
0.64 $/t to 173,89 $/t on solid НRW-wheat in Kansas city.
- 0.28 $/t to 196,21 $/t, SRW soft wheat in Chicago
Fell 1.1 $/ton to 188,86 $/t solid НRS-wheat in Minneapolis.
As of September 6, the U.S. winter wheat planted 5% of the planned areas compared to 1% last year and 3% on average for 5 years.
Dry weather in Russia and Ukraine holds the seed that can create a critical situation, if not the rains.
