Falling prices for U.S. wheat pulls neighboring markets

2020-08-05 13:00:44
Machine translation
Falling prices for U.S. wheat pulls neighboring markets

If on Monday the stock price of wheat fell under the pressure of increased production forecasts in Russia, on Tuesday, the main factor for the decrease was the decline in prices in the neighboring markets of soybeans and corn. Due to the improvement of crops for soybeans and wheat, amid forecasts of soybean production and corn prices fell 2-2. 8%.

 

Wheat exchange on Tuesday, the US fell through worsening export prospects for U.S. grain due to a larger harvest in Russia. Thanks to favorable weather spring wheat threshed on 5% of areas compared to 2% at the same date last year and 10% in average of 5 years.

 

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

the

3.12 $/t to 155,15 $/t for solid winter HRW wheat in Kansas city

1.74 $/t to 184,36 $/t on a firm spring HRS wheat in Minneapolis.

  • by 4.68 $/ton to month minimum 186,75 $/t for SRW soft winter-wheat in Chicago

 

the Prospect of significant wheat production in Russia continues to put pressure on European prices. And even the containment of the French manufacturers could not support quotes.

 

the

  • September futures milling wheat on MATIF fell by 0.5 €/ton to month minimum 179,75 €/t or 212,28 $/t

 

the decline in wheat prices today of Egypt GASC tenders for the purchase of soft milling wheat for delivery in September, which will be an additional indicator price for black sea wheat.

 

the

  • September futures on the black sea wheat in Chicago yesterday fell 1.4 percent to 207 $/ton, December – 1.3% up to 212,75 $/t

 

In Ukraine, purchasing prices for wheat falls as traders execute contracts and an increase in supply. Due to the lack of proposals of the corn of the old crop and a possible reduction in the new crop due to prolonged heat manufacturers of animal feed has been intensified and raised the price of feed wheat in 5950-6050 UAH/t with delivery to the plant, while exporters in the port offer 6300-6350 UAH/t

 

In Australia across Western Australia, there were rains, which will continue for another 1-2 weeks, which will improve the prospects of the wheat harvest. The presence of precipitation in the next 4-6 weeks will be a critical factor for the formation of an abundant harvest, which this year get to gather in the country.

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