Against the background of falling prices for wheat GASC announces the procurement tender

Today, the Egyptian GASC tenders for the purchase of at least 55-60 thousand tons of soft milling wheat with delivery Aug 21-31.

the Auction, which will take place amid a two-day drop of stock exchange price of wheat in the United States and the EU will determine the new price trends for the market of the black sea grain.

the price of wheat in Paris fell yesterday after Chicago and under the pressure of active harvest already in the North of France. High productivity on the background of significant differences in protein content allowed individual experts to increase the forecast of wheat production in the country to 38 million tonnes, despite an official estimate of 37 million tonnes, although today's crop forecasts predominantly reduced.

Association of farmers ' cooperatives of Germany (DRV) reduced in comparison with the June forecast estimate of wheat production in the country in 2019 3.5% to 23.85 million tons, which is 17.7% higher than the figure 2018

Prices supports the uncertainty of the wheat crop in Russia, which may suffer after the drought and heat in June and early July.

• September futures for milling wheat on MATIF fell 1.25 €/t to 175,5 €/t or 196,79 $/t.

wheat Harvest in the U.S. for the week significantly accelerated, though inferior to last year's pace. It also puts pressure on prices, simultaneously with the fall of neighboring markets of corn and soybeans.

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

1.01 $/t to 163,97 $/t for solid winter HRW wheat in Kansas city

0.83 $/t to 194,83 $/t on a firm spring HRS wheat in Minneapolis.

• 0.09 $/t to 186,47 $/t for SRW soft winter-wheat in Chicago