Exchange wheat price is still speculative growth

Following the stock exchange in Paris American markets on Tuesday showed growth amid increased demand from importers and possible introduction of duties on Russian wheat.

After the change of government of the Russian Federation Minister of agriculture remained Dmitry Patrushev, therefore, the bill on quotas for grain export in the second half of 2019/20 Mr in the range of 20 million tonnes is likely soon to be adopted.

This has led to increased demand from Iran, Pakistan and Bangladesh for Russian wheat with protein 12,5%, bid prices which rose to 230-232 $/t FOB, bid – to 229 $/MT FOB.

In France, the railway men stopped the weekly strike, however, promise to restore it if their conditions are met.

estimates Sigma Conseil, as a result of strong precipitation acreage of soft wheat in France, which is the largest grain producer in the EU will be reduced in comparison with the previous year by 10% to 19-year low, and its harvest will decline from 39.5 to 33.3 million tons.

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• March futures for milling wheat on MATIF rose 2.5 €/t to 1.5-year high 198,25 €/t or 219,68 $/t

In the US, speculators continued to heat up the market amid the global trend of strengthening of export prices for wheat and factors of a limited number of offers of wheat in the country. Even a reduction in weekly export of wheat by 22% to 435 thousand tons are unable to give quotes.

March wheat futures in the U.S.:

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2.11 $/t to 183,72 $/t for solid winter HRW wheat in Kansas city

0.83 $/t to 206,59 $/t on a firm spring HRS wheat in Minneapolis.

• by 4.04 $/t to 213,66 $/t for SRW soft winter-wheat in Chicago

Jordan on the second of this month the tender has purchased 60 thousand tons of milling wheat new crop of presumably Romanian production with delivery in the 2nd half of July at a price 229,9 $/t C&F, which is far less than the price 250-255 $/t C&F, for which Egypt recently purchased wheat for delivery in March.