On the eve of the release of the USDA report, speculators warm up the price of wheat
Speculators continue to heat up the wheat market, although the fundamental reason for this is not enough. It is expected that the September balance USDA not too much will change and will be neutral for wheat. The possible reduction in production in Canada, Australia and Kazakhstan will be covered by the increase in the EU, and for the United States significant changes are expected.
With the support of the Chicago weather and turmoil in the producing countries from the southern hemisphere French wheat rose yesterday to a two-week high. The market has ignored the increase in the official forecast of wheat production in France by 1 million tonnes to 39,45 mln t amid declining export demand.
the Physical market supported the purchase by Jordan of 60 thousand tons of Romanian wheat with protein 11% at the price of 218,5$/t CFR Aqaba and delivery in November.
- December f't usersi milling wheat MATIF rose 1.75 €/t to 170 €/t or 187,83 $/t
U.S. markets on Tuesday traded with the support of the speculators, who in anticipation of the release of the report USDA covered short positions. The market worried about a possible decline in wheat production in Australia and Argentina due to drought and delayed harvesting spring wheat in the United States due to precipitation.
the December wheat futures in the U.S.:
2.11 $/t to 148,35 $/t for solid winter HRW-wheat in Kansas city
by 2.57 $/ton to 185,09 $/t on a firm spring HRS wheat in Minneapolis.
- 2.85 $/t to 177,19 $/t for SRW soft winter-wheat in Chicago
In Ukraine, low export demand and significant reserves of wheat pressured prices, so farmers began to restrain sales and have moved to implement the sunflower. Through that prices for food wheat at the port stood at 167-169 $/t or 4900-5000 UAH/t, feed wheat – 163-165 $/t or 4800-4850 UAH/t