Despite bearish USDA report, wheat prices in the US and the EU grew

the new balance experts, the USDA sharply lowered the forecast of world consumption and increased the estimate for ending stocks of wheat in 2019/20 Mr.

the initial Estimate of world wheat stocks have increased compared to the March report by 0.53 million tonnes to 278,1 million tons.

the Forecast for world consumption was reduced by 5.1 million tonnes to 749,78 million tonnes due to the reduction of consumption in China by 2 million tons and India 1.9 million tons, the EU – by 1 million tons.

as a result, the estimate for ending stocks in 2019/20 Mr increased by 5.6 million tons to a record 292,78 million tons.

the Forecast of world wheat exports reduced 0.9 million tons to 182.7 million tonnes, a Decrease of exports from Russia by 1.5 million tons to 33.5 million tons, USA 0.41 million MT and Pakistan's by 0.3 million tons to compensate for the increase in exports from EU 32 to 33.5 million tonnes, the demand will increase the end of the season competition in the wheat market between the United States, Russia and the EU.

However, the price of wheat in the United States after the publication of the report increased slightly, primarily with the support of the export data.

Export sales of US wheat for the week almost doubled to 258, 6 thousand tons and the actual export - by 39% to 380 thousand tons Since the beginning of the season, the US exported 20.1 million tons of wheat, which is 7% higher than the pace last year.

the May wheat futures in the U.S.:

the

by 5.14 $/t to 180,78 $/t for solid winter HRW wheat in Kansas city

0.92 $/t to 195,66 $/t on a firm spring HRS wheat in Minneapolis.

• by 3.03 $/t to 204,47 $/t for SRW soft winter-wheat in Chicago

French wheat more expensive 5 consecutive session on active data on the export and drought in some EU countries and black sea region, including the southern regions of Russia.

the

• the May futures for milling wheat on MATIF rose by 0.75 €/t to 198 €/t or 216,37 $/t

Markets also supported the strengthening of the Russian ruble against the U.S. dollar.