The victory of the us wheat tender in Egypt supported prices

2019-03-27 12:04:27
Machine translation
The victory of the us wheat tender in Egypt supported prices

Yesterday, the Egyptian GASC purchased from Cargill, 120 tonnes of us wheat for delivery in the period 25 April-5 may at a price 221 $/t FOB or 248,24 $/t C&F, which is only 2.5 $/t lower than at the previous auction in February. After returning to the payment by l / C for 180 days traders have added $5/t for payment of additional funding for these supplies, so the price proposals of European and Russian wheat remained at the level of February, although this time, the market price fell 3-5%.

 

the results of the tender become a new factor of pressure on the prices of European and American wheat.

  • the May futures for milling wheat on MATIF fell by 1.5 €/t up to 188 €/t or 211,58 $/t

 

during the session quotations of soft wheat in Chicago rose to a month high, but fell slightly after speculators began to take profits.

 

prices presses report on the condition of crops of winter wheat in the United States. In comparison with last year the quantity of the winter wheat crop in good or excellent condition has increased in Kansas from 13% to 52% in Oklahoma, 9% to 74%, Texas with 12% to 39%.

 

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

2.21 $/ton to 162,86 $/t for solid winter HRW wheat in Kansas city

to 2.20 $/t to 208,42 $/t on a firm spring HRS wheat in Minneapolis.

  • 0.09 $/t to 172,42 $/t for SRW soft winter-wheat in Chicago

 

In April, the wheat market will support the growth of demand from Ethiopia, where prolonged drought is shrinking its own production and an increasing shortage of wheat. The government of Ethiopia until April 30 plans to hold a tender for the supply of wheat, the results of which the total imports will grow from 400 thousand tons to 1 million tons

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