On wheat exchanges prices again updated multi year highs

2021-04-27 12:04:31
Machine translation
On wheat exchanges prices again updated multi year highs

Yesterday, wheat prices on world stock exchanges rose sharply by 5% at once, updating 7-year highs, amid increased demand for feed wheat and following the neighboring corn market, which is becoming more expensive on forecasts of a decline in the harvest in Brazil.

 

Traders ' concerns are compounded by the drought in wheat-growing regions in the United States and information that up to 15-20% of winter wheat crops in Russia have suffered from frosts, and they will have to be replanted.

 

But the main driver of yesterday's trading in the United States was July corn futures, which rose to the highest level since June 2013 amid a possible decrease in the second corn harvest in Brazil. After a sharp increase in corn prices, some of the world's largest importers decided to replace it with feed wheat.

 

According to the USDA, the number of winter wheat crops in the United States in good or excellent condition for the week decreased by 4% to 49%, compared with 54% last year. Dry conditions remain in wheat-growing regions, but farmers are accelerating sowing in anticipation of precipitation. As of April 25, 28% of the planned areas were sown with spring wheat in the United States, compared with 13% on the same date last year and 19% on average over 5 years.

 

During the week, USDA experts inspected 564 thousand tons of wheat for export, which exceeded traders ' expectations. Since the beginning of the season, 22.6 million tons of wheat have been exported out of the projected 26.8 million tons.

 

July US futures rose:

  • by 1 10.01 / ton to Чикаго 271.71/ton for soft winter SRW wheat in Chicago,
  • by 1 10.38 / ton to H 260.42/ton for hard winter HRW wheat in Kansas City,
  • by 8 8.64/ton to.275.21 / ton for hard spring HRS wheat in Minneapolis.  

 

EU countries (excluding the UK) exported 21.677 million tons of soft wheat in my 2020/21, which is 26.6% lower than the corresponding indicator of the 2019/20 season, but wheat prices rose on the expectations of tenders that Algeria and Egypt will hold this week.

 

  • May wheat flour futures for MATIF rose by €10.5/ton to €246.75/ton or.297.8/ton yesterday, while September futures rose by €7/ton to €226.25/ton or. 273.1/ton.
  • On the Chicago Stock Exchange, after Friday's decline, July Black Sea wheat futures rose by 4 4/ton to 2 264/ton, and August – to.265/ton.

 

In Ukraine, purchase prices at the port increased to 7600-7800 UAH/ton or 2 240-245/ton for deliveries in April – May, and to 2 230-235/ton for deliveries in July – August.

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