On the eve of the release of the USDA report wheat prices continue to rise

2021-02-09 12:02:52
Machine translation
On the eve of the release of the USDA report wheat prices continue to rise

Made President Biden to Congress a bill to provide aid package for the economy worth 1.9 trillion $ has led to the rapid growth of the stock and commodity markets in the US, although analysts do not expect that the package will be voted in full.

 

behind the growth of markets for soybeans and corn U.S. wheat also rose, especially given the possible reduction of future crops of winter wheat and the expected reduction in global reserves.

 

Freeze that in the last days of the reign in the regions of cultivation of winter wheat in the United States, may adversely affect its yield. But at the end of the week, meteorologists promise warming.

 

market Participants expect that released today by the USDA balance for wheat will be reduced forecasts of ending stocks in the United States and the world.

 

More quotes declared by the Philippines supports a tender for the purchase of 230 thousand tons of feed wheat and active export of wheat from the United States, who last week rose by 6.5% to 441 t, but in the whole season has reached 17 million tons, which is 1% higher than last year's pace.

 

the March wheat futures in the U.S.:

  • by 5.33 $/t to 240,94 $/t for SRW soft winter-wheat in Chicago,
  • by 5.24 $/t to 234,97 $/t for solid winter HRW wheat in Kansas city,
  • at 3.40 $/t to 233,41 $/t on a firm spring HRS wheat in Minneapolis.

 

wheat Exports from the EU for the week rose to 301 thousand tons, but overall, the season is only 15.8 million tons, which is 16% below the corresponding period last year.

 

  • the March futures for milling wheat on MATIF rose 2 €/t to 226,5 €/t or 273,6 $/t

 

In Russia allocated quota for export of 17.5 million tonnes of grain to the end of the 2020/21 season, 70% of which received 10 companies, the largest of which are:

  • GTCS – quota 2.7 million tonnes,
  • Aston - 2.1 million tons,
  • Solaris - 1.8 million tons,
  • Viterra - 1.2 million tons,
  • Cargill – 892,53 kt,
  • UGC – 828,473 kt

 

the uncertainty of Russian wheat exports reduces consumer demand, which leads to a further reduction in prices for black sea wheat.

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