Fundamental factors lowered the exchange on CNA wheat

After three days of speculative growth of prices for wheat resumed its decline under pressure of low demand and fixation of profit by traders.

a Mild winter improves the forecasts of the wheat crop in the new season, and unsold remnants of the old crop put pressure on the market.

Agency Experts IEG Vantage (formerly Informa Economics) raised its forecast of wheat production in 2020 for the following countries:

the

Russia – by 2 million tonnes to 76 million tonnes,

India – 7 million tons to 108 million tons.

• China – 1.5 million tonnes to 130 million tonnes,

Argentina crop Outlook for wheat in 2019/20 Mr increased 0.5 million tons to 19.5 million tons.

Investors in Chicago moved to speculative sales, locking in profits. In the near future the strengthening dollar will limit grain exports. For the week, export sales of US wheat declined by 48% to 338,6 thousand tons, which is 35% less than the average for the period of 4 weeks. Export shipments for the week increased by 85% to 405 tonnes, and total exports since the beginning of the season was 16.1 million tonnes, which is 29% higher than the previous season.

On CCN pushing messages USDA about that the forecast balance of grain and olynk for February does not include details on the obligations of China on procurement in the framework of the 1st stage signed in January trade agreement.

March wheat futures in the U.S. fell:

the

to 2.20 $/t to 171,87 $/t for solid winter HRW wheat in Kansas city

1.01 $/t to 195,66 $/t on a firm spring HRS wheat in Minneapolis.

• 2.11 $/t to 204,38 $/t for SRW soft winter-wheat in Chicago

the French wheat Market yesterday fell after two days of speculative is growing concern about the spread coronavirus exceeded factor active export demand.

the

• March futures for milling wheat on MATIF fell by 0.75 €/ton to 193 €/t or 211,97 $/t

Yesterday, there was news about a new China's purchase of French wheat. Was contracted two vessels wheat for delivery in March-April at a price of 255 $/ t CFR China.

In Germany, strong demand from Iran has led to higher prices for wheat with protein 12,5% 2-3 €/t