Uncertainty on wheat exchanges leads to sharp price spikes

< span style="font-size:14px;" > a possible decrease in the corn crop in Brazil warms up the corn market, which supports wheat prices, which even despite record production forecasts remain high due to increased demand for feed grain.

< span style="font-size:14px;">uncertainty on wheat exchanges leads to sharp price spikes. On data on the good condition of crops and active in the United States, wheat prices on US stock exchanges fell on Monday, but rose on Tuesday after the corn market.

< span style="font-size:14px;">July futures rose:< / span> < / p>

• < li> < span style= " font-size: 14px;" > by 3 3.03/t to до 266.80 / t for soft winter SRW wheat in Chicago,< / span> < / li>
• < span style= " font-size: 14px;" > by 3 3.95/t to до 256.60 / t for hard winter HRW wheat in Kansas City,< / span> < / li>
• < span style="font-size:14px;" > by 3 3.49/t to.282.30/t for hard spring hrs wheat in Minneapolis.

< span style="font-size:14px;" > as of May 2, 49% of the planned areas were sown with spring wheat in the United States, compared to 27% last year and 32% on average over 5 years.

< span style="font-size:14px;">due to the lack of precipitation in Texas, Oregon and Colorado during the week, the number of crops in good or excellent condition decreased by 1% to 48% compared to 55% a year ago.  

< span style="font-size:14px;" > according to the USDA, 510 thousand tons of wheat were inspected for export during the week, which is 14% lower than in the previous week and last year. In total, 23.13 million tons of wheat were exported during the season, which is 86.3% of the USDA's April forecast for the current season.

< span style="font-size:14px;" > despite the favorable weather for the development of crops in Europe, prices for European wheat are changing following the American stock exchanges.

• so, on the Euronext exchange, may futures on Friday rose by 6.5 €/t, on Monday fell by 14.25 €/t, on Tuesday rose by 8.75 €/t to 252.25 €/t or 303.1 €/t, while September futures on Monday fell by 4 €/T, and yesterday rose by 4.75 €/t up to 220.5 € /t or або 264.95/t.

< span style="font-size:14px;" > in Ukraine, the weather contributes to the development of wheat crops, so experts of the Russian agency SovEcon increased the forecast of the wheat harvest in Ukraine by 0.4 million tons to 28.6 million tons compared to 25 million tons in 2020/21 MG.