On the wheat market there is a new speculative jump in prices

Speculative rise in the price of soya and maize on the exchange in Chicago, due to the purchase of a large batch of maize to China, inspired the wheat market as traders got hope for the restoration of China's purchases of American agricultural products. Additionally, the price supports the introduction of Russia 50 €/t duty on the export of wheat since March 1, and the quota of 17.5 million tons for export of grain until the end of the season.

French wheat after the fall by 12.5 €/t at the end of last week on Tuesday I played 6,5 €/t, with the support of rising prices for soft wheat in Chicago.

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• the March futures for milling wheat on MATIF rose by 3.25 €/t to 229,75 €/t or 279,36 $/t

the growth of the wheat market in the United States, which began yesterday, has accelerated amid a rebound in corn prices by 4% due to increased export demand.

Quotations supported the deterioration of the winter wheat crop in Kansas, which is a major agricultural state. In good or excellent condition in December, there were 46% of crops, and in January – 43%.

the March wheat futures in the U.S.:

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by 5.05 $/t to 235,52 $/t for solid winter HRW wheat in Kansas city

by 4.41 $/t to 234,41 $/t on a firm spring HRS wheat in Minneapolis.

• by 6.15 $/t to 244,43 $/t for SRW soft winter-wheat in Chicago

the Traders did not take into account the increase in forecast wheat production in Australia to 31 mln t and in Argentina to 17.2 million

Experts FAS USDA raised its forecast of wheat harvest in Australia to 2020/21 MG to 31 million tonnes, 1 million tonnes more than the January USDA forecast and 15.8 million tonnes the previous season. Evaluation of wheat exports increased to 21 million tonnes, 1 million tonnes more than the January USDA forecast and 11,864 million tonnes – exports 2019/20 Mr.

On the physical markets despite the large number of offers of wheat on 280-295 $/t FOB buyers keep the market in anticipation of lower prices due to growth of offers of Russian wheat for delivery in February. But the next jump in stock prices makes these hopes vain.

the price of wheat of the new harvest are 250-260 $/t C&F, therefore, according to forward contracts on supplies of Ukrainian wheat in July-August, traders offer in the port 220-230 $/t