Active exports from the United States and the results of the tender in Algeria supported wheat prices

2021-05-21 12:11:23
Machine translation
Active exports from the United States and the results of the tender in Algeria supported wheat prices

< span style="font-size:14px;" > after a previous drop yesterday, wheat prices on the Paris Stock Exchange rose on the news of Algeria's purchase of a large batch of European wheat. However, on US stock exchanges, the pressure of forecasts of high wheat yields outweighed the impact of data on record export sales of wheat and corn from the United States. Prices for Black Sea wheat are falling against the background of significant reserves of the old crop, low demand and favorable weather for the future harvest.

 

< span style="font-size:14px;" > the US wheat market is falling for the fourth day in a row on the data of the crop tour in Kansas, according to which the forecast of winter wheat yield in this state, which is its main producer, experts raised to the highest level since 2000 (the beginning of surveys) of 3.9 t/ha compared with 2.9 t/ha on average for 20 years and 3.2 t/ha in the May forecast of the USDA.

 

< span style="font-size:14px;">weekly export sales of old wheat from the United States amounted to 120 thousand tons, which meets the expectations of experts. The total volume of export sales in the season amounted to 25.6 million tons, which is 3.5% less than last year. At the same time, weekly forward sales of the new crop exceeded traders ' expectations and amounted to 317.7 thousand tons, and in general they have already reached 3.577 million tons, which is 41% higher than the corresponding indicator of the previous season.

 

< span style="font-size:14px;">actual wheat exports for the week amounted to 568 thousand tons, and in general in the season – 23.6 million tons out of the projected USDA 26.26 million tons, but it is unrealistic to ship another 2.66 million tons before June 1.

 

< span style="font-size:14px;">July US futures fell:< / span> < / p>

  • < li> < span style= " font-size: 14px;" > by 1 1.47/t to до 248.11 / t for soft winter SRW wheat in Chicago,< / span> < / li>
  • < span style= " font-size: 14px;" > by 3 3.22/t to до 229.64 / t for hard winter HRW wheat in Kansas City,< / span> < / li>
  • < span style="font-size:14px;" > by 0 0.73/t to.255.55/t for hard spring hrs wheat in Minneapolis. 

 

< span style="font-size:14px;" > the Paris Stock Exchange did not decline after Chicago, as it received support in the form of forecasts of a decrease in the corn harvest in Brazil and the results of the tender in Algeria.

 

< span style="font-size:14px;">the Algerian OAIS agency purchased at the tender 330 thousand tons of European flour wheat for delivery in July at a price of C 295/ton CFR, which is 7 77/ton higher than the purchase price at the tender on May 13, 2020, but 2 22/ton lower than the price of the previous tender for delivery in June.

 

  • < span style="font-size:14px;">September wheat flour futures on MATIF rose by 2.25 € / t to 213.75 € / t or<261.32 / t. < / span> < / li>

 

< span style="font-size:14px;">prices for Black Sea wheat of the new crop have already decreased to F 260-265/ton FOB, but demand remains low. Asian feed producers are trying to replace it with wheat due to high corn prices, which will support wheat prices in the near future.

 

< span style="font-size:14px;">Russia is accelerating the sowing of spring wheat, which has already been sown 64.5% of the planned area or 8.2 million hectares, which is 9.5% less than last year on this date.

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