Stock quotes for wheat started the week down

2021-04-13 12:01:17
Machine translation
Stock quotes for wheat started the week down

wheat quotes Yesterday on the American stock exchange under the pressure of the predictions, the increase in production in Russia and a high rate of sowing of spring wheat in the United States down to the level that preceded the release of Friday's USDA report. Traders are concerned about the decline in export demand and the speed of delivery of old crop wheat.

 

the Russian Agency ICARUS, after Sovekon increased in comparison with poprzedni estimates forecast of the wheat harvest in Russia in 2021 at 1.2 million tonnes to 81 million tons.

 

According to USDA, the volume prospective for wheat exports for the week decreased by 28% to 458,4 kt

 

According to the weekly report by the USDA, as of April 11 in good or excellent condition in the United States was 53% of the winter wheat crop as a week ago, although last year the rate was 59%. To the heading stage crossed the 5% winter wheat, compared to a 4% a week ago, on 6% a year ago and 7% on average for 5 years.

 

Due to the dry weather of spring wheat planted in the United States 11% of the planned areas, whereas a week ago, the figure was 3%, a year ago, 5%, and the average for 5 years – 6%.

 

May futures fell:

  • by 3.95 $/t to 230,75 $/t for SRW soft winter-wheat in Chicago,
  • by 2.76 $/t to 212,74 $/t for solid winter HRW wheat in Kansas city,
  • by 4.13 $/t to 236,17 $/t on a firm spring HRS wheat in Minneapolis.

 

the European Exports of wheat remains at a low level and made up for the week in just 175 thousand tons, but only in the season reached 20.3 million tonnes, which is 23% below last year's pace.

 

  • the May futures for milling wheat on MATIF fell by 1.5 €/t to 211,25 €/t or 251,1 $/t, and the September – 0.75 €/t to 198,75 €/t or 236,27 $/t

 

the Demand for black sea wheat approaching Ramadan is reduced, and demand for may delivery remain at 240-245 $/t FOB, which increases pressure on the price of wheat in Ukraine.

 

In April, Ukraine exported a total of 84 thousand tons of wheat, and in General, in the season of 14.5 million tonnes Until the end of the season we need to implement another 3 million tonnes of wheat that will be difficult to do due to low demand and the reluctance of manufacturers to sell wheat at competitive prices, which make up 6800-7200 UAH/t in the port and 6700-6900 UAH/t with delivery to the mill.

Visitors’ comments (0):