The results of the tenders launched wheat prices up

After the previous rapid growth of prices for wheat last week stabilized at the background of precipitation in the United States and Russia. But despite analyst expectations for a price adjustment on Friday, they resumed growth in data on the results of tenders where the procurement price has increased 20-25 $/t compared to the beginning of the month.

U.S. wheat after two days of fall actively rose in price on the background of frost in the regions of winter wheat production and procurement of feed wheat from the U.S. South Korean companies. The Taiwan flour millers bought 89 thousand tons of U.S. wheat of different varieties with delivery in December-January at a price 281-295 $/t CFR.

December futures U.S.:

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3.49 $/t to 209,34 $/t for solid winter HRW wheat in Kansas city

at 1.10 $/t to 212,19 $/t on a firm spring HRS wheat in Minneapolis.

• by 3.67 $/ton to 232,49 $/t for SRW soft winter-wheat in Chicago

Corn exchange in Paris and grew with the support of Chicago and the outcome of the tender in Egypt, where French wheat and although not won because of the expensive freight, however, had rates at par with the best proposals of Russian wheat.

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• December futures for milling wheat on MATIF rose by 0.75 €/t to 209,75 €/t or 248,77 $/t

Egyptian Agency GASC tender on October 23, bought 165 TMT of Russian soft milling wheat supply 1-10 and 11-20 December:

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55 thousand tonnes from Louis Dreyfus at a price 263,97 $/t FOB + freight 14,9 $/t = 278,87 $/t C&F

55 kt in the company ADM for price 263,97 $/t FOB + freight 14,9 $/t = 278,87 $/t C&F.

• 55 thousand tonnes from Louis Dreyfus at a price 262,97 $/t FOB + freight 14,9 $/t = 277,87 $/t C&F

Average purchase price amounted to 278,54 $/t CFR, which is 22 $/t higher than the price of the tender, which took place a month ago.

Purchase a processor from Philippines 55 thousand MT of Australian feed wheat for November – February at a price of 280 $/t CFR suggests that Asian consumers prefer Australian wheat, which is now cheaper than American or black sea.

bid Prices of black sea wheat are 255-260 $/t FOB, the Argentine – 250-253 $/t FOB.

Russia for a week has increased wheat exports by 56% since the beginning of the season, exported 16.4 million tons, which is 11% higher than the corresponding figure last year.

Ukraine for the week increased wheat exports by 52% to 548 thousand tons, and just season shipped 10 million tons of wheat, which is 4% below the corresponding indicator 2019

According to forecasts of experts, till the end of the season Ukraine will export another 7.5 million tons of wheat, Russia – 23 million tons, Argentina – 10 million tons, Australia and the EU – 15 MT, USA – 15-16 mln tonnes, which will be quite a significant volume for the market in the second half of the season. As a rule, the main volumes are purchased in the first half of the season, and in the case of improving the condition of winter crops buyers can reduce the pace of purchases, with the consequence that prices will fall.