On the wheat market intensifies competition for customers

Low international wheat prices and demand buyers only cheap party forced sellers, which are still holding back sales, lower price offers.

India has raised the official forecast of wheat production in the new season to a record 102 million tons, putting pressure on prices.

Ukraine for the week increased the export of wheat by 29% from 0,814 to 1.05 million tons, while Russia has reduced by 20% to 650 thousand tons, and the United States 31% to 488,9 thousand tons.

Monday, September futures of French wheat fell to a low of under pressure from Chicago and news about the refusal of the Algerian Agency OAIC from the purchase of Romanian wheat harvest, 2019 for its high content of insect damaged grains. Algeria requires that imported parties the content of damaged grains did not exceed 0.1%.

Grain Agency of Morocco (ONICL) September 5, will hold a tender for the purchase of 576 thousand tonnes of soft milling and 345,455 thousand MT of hard milling wheat.

• September futures for milling wheat on MATIF fell by 2.25 €/t to 165,75 €/t or 183,76 $/t

Wheat exchange on Monday, the US was under heavy pressure of neighboring markets of soybeans and corn that have fallen off heavy rainfall in parts of the US suffered from drought.

Winter wheat in the U.S. collected from 93% of the area, and the spring 16% compared to 98% and 49% respectively in average for 5 years. However, the number of spring wheat in good or excellent condition for the week rose by 1% to 70%.

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

at 1.10 $/t to 143,76 $/t for solid winter HRW-wheat in Kansas city

0.27 $/t to 185,74 $/t on a firm spring HRS wheat in Minneapolis.

• 1.93 $/t to 171,04 $/t for SRW soft winter-wheat in Chicago