The stock price of wheat falling under the pressure of the proceeds of the new harvest

Friday prices for European wheat declined following the drop in prices in the United States.

Data collection confirm the high quality of wheat in the U.S., EU, Ukraine and Russia, although lower than last year, yield. The increased projections of wheat production in Canada, Australia and Russia intensifies pressure on prices.

Importers reduced demand in anticipation of the August balance of USDA, which is likely to have a bearish tone.

According to the average estimate in a Bloomberg survey of analysts, the production of wheat in the United States will make 49,86 million tonnes compared to 51,08 million tons in 2019, and projected in July 49,64 million tons world ending stocks of wheat in 2020/21 MG was reduced to 314,7 mln t compared to 297,12 million tonnes in 2019/20 Mr and predicted in July 314,84 million tons.

the

• September futures milling wheat on MATIF on Friday declined to 1.25 €/t up to 178 €/t or 209,79 $/t, updating the monthly minimum.

According to the monitoring FranceAgriMer, as of August 3, in France the number obmolocheno of wheat over the week grew by 9% to 99% compared with 95% at that date in 2019 In most regions, the average protein content exceeds 11.5 percent. Traders await the August USDA report, which can be increased the forecast of wheat harvest in the United States and the inventory levels.

For the week, September wheat futures in Chicago lost 6.6%, became the largest weekly drop since February 2019

the September wheat futures in the U.S. fell:

the

0.64 $/t to 152,67 $/t for solid winter HRW wheat in Kansas city

0.55 $/t to 181,69 $/t on a firm spring HRS wheat in Minneapolis.

• 2.11 $/t to 182,06 $/t for SRW soft winter-wheat in Chicago

In Ukraine, as of August 6, with 5.8 million ha or 87% of the area produced 23.1 million tonnes of wheat with a yield of 3.98 t/ha, which gives hope for obtaining projected for 25.5-26 million tonnes, the Procurement prices of wheat are at the level 189-190 $/t or 6300-6350 UAH/t at the port, however, sales volumes remain low.