The increase in the price of the tender in Algeria did not support the stock market

the Algerian grain operator OAIC tender on 4 Dec has purchased approximately 500 thousand tonnes of soft milling wheat of French and Argentine production from protein 11%, with delivery in February 2020 at an average price of 228,5 $/t C&F, which is 4.75 $/t higher than at the previous auction on November 20.

Perhaps the volume of purchases of Argentine wheat by Algeria will be quite strong, reflecting its high competitiveness in the markets of the Mediterranean, to which can only worsen the poor quality of the Argentine new crop. On the eve of the French wheat got defeated by the Russian in the tender in Egypt.

the Prospects of reduced exports from the EU press on the market therefore, the March futures French wheat cheaper 4th day in a row. Yesterday, the fall precipitated the collapse of Chicago, which concerned data on exports of wheat from the United States.

• March wheat futures on the MATIF fell by €1/t to 183 €/t or 203,27 $/t

Export sales of US wheat were shocked by the exchange, because was the worst since mid-July and made the smallest weekly figure of the season. Experts expect to activate the export, and got a reduction. For the week, export sales decreased by 63% to 228,1 thousand tons despite expectations in the range of 300-700 thousand tons.

the Actual weekly exports of wheat also was the lowest since the beginning of the season, since the reduced compared with last week 45% to 231,7 thousand tons Total exports of the season is 12.3 million tons of wheat, which is 23% higher than the corresponding figure last year.

March wheat futures in the U.S. fell:

1,84 $/t to 160,02 $/t for solid winter HRW wheat in Kansas city

0.46 $/t to 188,77 $/t on a firm spring HRS wheat in Minneapolis.

• 1.38 $/t to 192,44 $/t for SRW soft winter-wheat in Chicago