Forecasts of heavy precipitation in the regions of cultivation of winter crops lowered the price of wheat

2021-03-11 12:02:06
Machine translation
Forecasts of heavy precipitation in the regions of cultivation of winter crops lowered the price of wheat

Meteorologists predict within a week of abundant precipitation in the form of snow and rain in the regions of cultivation of winter wheat in the United States, Ukraine and Russia, contributing to the renewal of spring vegetation. Traders chained to the American plains, where fall and winter crops of winter wheat suffered from a significant deficiency of moisture, so they further state will largely depend on the promised rain.

 

After a minor speculative adjustment yesterday, the market for U.S. wheat turned down on data from the March USDA report and under the pressure of the neighbouring markets of soybeans and corn.

 

the May futures fell:

  • 1.47 $/t to 239,75 $/t for SRW soft winter-wheat in Chicago,
  • by 3.67 $/t to 226,52 $/t for solid winter HRW wheat in Kansas city,
  • 2.30 $/t to 235,61 $/t on a firm spring HRS wheat in Minneapolis.

 

the wheat Market of the French second day is under the influence of negative outcomes Algerian tender where the Agency OAS March 9, purchased 480 thousand tonnes of soft milling wheat for delivery in April at a price of 323 $/t C&F. If the first traders were disappointed lower than planned, the purchase amount, then later there were rumors that the contracts will be closed German and Polish wheat, not the French.

 

  • the May futures for milling wheat on MATIF fell by 1.75 €/t to 227,5 €/t or 271,37 $/t

 

the decline of prices for European and Russian wheat Egyptian GASC today will hold a new tender, which will demonstrate the readiness of the European sellers due to the depreciation of the Euro to offer better rates than in the previous tender, where they were 278-282 $/t FOB.

 

bid Prices for Russian wheat due to low demand dropped to 285 $/t FOB, while demand does not exceed 280 $/MT FOB. Buyers are buying wheat in limited quantities, waiting for lower prices for the new crop amid improving weather conditions.

 

In Ukraine exporters offer in port for wheat 8650-8700 UAH/t or 270-273 $/t, while refiners stepped up purchases and pay with delivery to the plant 8400-8500 UAH/t For wheat of the new harvest for delivery in July and August, while offering 228-230 $/t

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