Stock prices for wheat rose sharply because of the uncertainty with the harvest in major exporting countries

2020-07-09 12:15:51
Machine translation
Stock prices for wheat rose sharply because of the uncertainty with the harvest in major exporting countries

the slowdown in wheat production compared to last year for the US, the EU and Ukraine confirmed the preliminary data on productivity. For Russia the projections of production remain higher than last year, although yields in southern regions, while lower than last year.

 

In Russia as of July 8, with 3.5 million hectares, yielding 11.4 million tons of wheat with a yield of 3.27 MT/ha, whereas at that date in 2019, it was 4 t/ha.

 

the Market for French wheat followed Chicago yesterday rose to a monthly high amid the decline of the Ministry of agriculture of France production forecast for wheat by 21%, reduction experts FranceAgriMer forecast its exports to third countries by 43%, and a reduction of projections of wheat production for Ukraine and Russia.

 

the

  • September futures milling wheat on MATIF rose by 2.25 €/t 187 €/t or 211,99 $/t

 

Quotes soft wheat in Chicago has updated its monthly maximum on data on heterogeneous yield of wheat in Kansas, where indices in the range of 20-55 bushels/acre, which is an average of 40 bushels/acre. On the eve of the release of the USDA report, analysts have lowered the forecast of wheat harvest in the United States to 50.3 million tons.

 

Also supported prices and speculation, as investors EN masse to close a short position.

 

the September wheat futures in the U.S.:

the

5.88 $/t to 167,82 $/t for solid winter HRW wheat in Kansas city

3.77 $/t to 192,26 $/t on a firm spring HRS wheat in Minneapolis.

  • 7.81 $/t to 189,78 $/t for SRW soft winter-wheat in Chicago

 

Futures for black sea wheat yesterday also increased by 2% to 207 $/ton for August and 209 $/MT for the September contracts, which will support prices for wheat in Ukraine.

 

Thai animal feed producers Association canceled a tender for the purchase of 193 thousand tons of feed wheat, as the cheapest offer had a price of 244 $/t CFR, while buyers were willing to pay no more than 215 $/t CFR. This suggests that amid cheap corn buyers won't buy expensive wheat, especially fodder.

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