Good prospects for the next harvest down the stock price of the wheat

2020-05-14 12:09:30
Good prospects for the next harvest down the stock price of the wheat

the participants in the wheat market analyze the data of yesterday's USDA report, where the increased forecast of world production and ending stocks in the new season, which has already led to a decline in wheat prices by 2.2 to 2.4%. However, the lower forecast for wheat production in the new season for the US and the EU slows down the fall of prices as traders do not believe in a significant decrease in quotations which partially confirmed the results of an Algerian tender.

 

on Tuesday, the Algerian Agency OAIC has purchased on the tender of at least 480 thousand tonnes of European milling wheat with protein 11% with delivery in July-August at a price 218-218,5 $/t C&F, which is 7-10 $/t higher than they were a year ago.

 

Yesterday, the French wheat has fallen behind Chicago, despite winning the tender in Algeria, the outcome of which traders admitted ordinary.

 

did Not support quotes even increase the forecast of exports of French wheat to third countries to a record 13.3 million tonnes, which is 37.6% higher than the figure recorded last season, and by 5.3% - the previous record 2015/16.

 

the

  • September futures for milling wheat on MATIF fell by 2.5 €/t to 184 €/t or 198,96 $/t

 

Tenders in Tunisia and Jordan, which will be held this week will provide the market with additional price targets.

 

July futures on soft wheat in Chicago, under pressure from the USDA report fell to the lowest since March 18 level. Traders worried about the increase in global ending stocks of wheat in 2020/21 MG to record 310,12 million tonnes and reduced the forecast of wheat exports from the United States in comparison with the current season by 2.1%, resulting in the U.S. share of world exports will decrease from 14.4% to 13.7%.

 

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

the

by 5.51 $/t to 166,90 $/t for solid winter HRW wheat in Kansas city

by 4.68 $/t to 186,75 $/t on a firm spring HRS wheat in Minneapolis.

  • by 4.68 $/t to 184,36 $/t for SRW soft winter-wheat in Chicago

 

In Ukraine on the background of complete traders export programs in wheat prices at the port fell by 200-300 UAH/t to 6350-6400 UAH/t 200 $/t. the demand Price for deliveries to the port in July and August new crop wheat remain low, at the level 177-180 $/t pressure On prices projected by the experts USDA crop at 28 MMT, although a prolonged drought in the South may adjust the forecast.

 

bid Prices of the black sea new crop wheat with protein 12.5%, and delivery in July remain at 195-196 $/t FOB, but active purchases no.

 

Spring wheat in Russia is planted 42% of the planned 5.1 million ha. of Recent rainfall improved the condition of winter crops, however, in the South of Krasnodar and the Stavropol region there is a shortage of moisture.

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