The stock price of wheat falling under the pressure of world panic

Yesterday, wheat prices fell following the stock and commodity markets. Traders concerned about the future economic consequences of a pandemic coronavirus Covid-19, which are impossible to predict. Stock indexes have fallen by between 9 and 16%, and the introduction of quarantine in many countries may lead to the bankruptcy of companies around the world. Although news from China, where for the last day sick only 8 people, 7 of which arrived in the country from abroad, indicate that due to strict quarantine measures to cope with the disease is still possible.

In the U.S. the stock price of wheat fell yesterday after the markets of soybeans and corn.

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

the

1.01 $/t to 159.00 $/t for solid winter HRW wheat in Kansas city

at 1.10 $/t to 187,02 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.66 $/t to 185,74 $/t for SRW soft winter-wheat in Chicago, which is at least 30.09.2019 g

Quotes European wheat also fell sharply on the stock exchange in Paris, however, the victory of French wheat at tender in Algeria has significantly supported prices.

the Algerian grain Agency OAS March 11, acquired at the tender of 600 thousand tons of milling (mostly French) of wheat with protein 11.5% and delivery 1-15 and may 16-31 may at a price 226,5-228 $/t C&F, which is 10-11 $/t lower than at the previous auction of February 10, when was contracted, 660 thousand MT of soft milling wheat.

the

• the May futures for milling wheat on MATIF rose by 0.5 €/t to 177,75 €/t or 198,74 $/t

a Decline in export prices for Russian wheat, due to devaluation of the ruble and prospects for the future harvest of wheat in Russia has limited the growth of quotations in Paris.

After the decline of the ruble by 15%, experts expect a sharp increase in the number of offers of Russian wheat on the world market in March-April.