Wheat quotes on stock exchanges rose again amid the weather

2021-07-15 12:16:10
Machine translation
Wheat quotes on stock exchanges rose again amid the weather

Forecasts of a new wave of hot and dry weather in the northwestern United States continue to push wheat quotes on stock exchanges, while precipitation in Kazakhstan and in Central and eastern Russia has eased the heat and will improve the condition of spring crops.

 

The results of the tender in Egypt again showed that Romanian wheat is more competitive compared to Russian and Ukrainian wheat. The average offer prices on the FOB basis were $238/t for Romanian and.239 and. 242/t for Ukrainian and Russian wheat, but due to cheaper freight for the supply of wheat to Egypt from Romanian ports than from Russia and Ukraine, the cheapest offer of Romanian wheat on the C&F basis (with delivery to Egypt) was 1 14.3/t cheaper than the offer of the cheapest Ukrainian wheat.

 

Quotes of Black Sea wheat on the Chicago Stock Exchange continued to grow yesterday and August futures added 4 4.75 / ton to.243.75/ton, and December by. 6.25/ton to. 257.5/ton, following the growth of quotes for American and European wheat.

 

After a short respite, Chicago's September soft wheat rose again on Wednesday. The main motive of the auction was dry and hot weather, tormenting grain crops in the north of the American plain and in the Canadian Prairies. In addition, investment funds massively closed short positions.

 

September quotes of American wheat rose:

  • soft wheat SRW in Chicago by 7 7.53 to 2 240.39 / ton;
  • HRW durum wheat in Kansas City by 5 5.88 to 2 230.65 / ton;
  • hrs durum wheat in Minneapolis increased by 4 4.04 to 3 320.67 / ton.

 

The French wheat market accelerated growth on Wednesday. Traders are concerned about increased precipitation, which slows down the harvesting process and threatens to worsen the quality of grain. The situation is similar now in Germany. The Association of farmers ' cooperatives of Germany predicts a total wheat harvest in the country of 22.8 million tons. this is 0.8% less than the previous forecast, but 3.2% more than was collected last year.

 

September prices of flour wheat on the Paris MATIF Exchange rose by €5.75 to €208.25/ton (€246.25/ton).

 

Pakistan is holding a tender for the purchase of 500 thousand tons of wheat, which will be a good support for the quotes of European and Black Sea wheat, and in total, the State Corporation of Pakistan TCP plans to import about 1.5 million tons of wheat in the new season.

 

As of 14.07.2021, 700 thousand tons of grain and leguminous crops were exported from Ukraine in the new 2021/22 season, including: wheat - 223 thousand tons, barley - 95 thousand tons, Rye - 44.32 thousand tons, corn - 373 thousand tons, wheat flour - 3.6 thousand tons.

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