Wheat prices fall after prices for soybeans and corn

2020-07-29 12:03:38
Machine translation
Wheat prices fall after prices for soybeans and corn

due to favourable weather, improving the state of soybeans and corn in the United States, and active wheat harvest lowered grain prices of the new crop, although the purchase price of the Egyptian tender was increased compared to the previous trading 2.7 $/t

 

the Increase in forecast wheat production in Russia has received a new confirmation. According to Rosstat, the sowing area of winter wheat in the country in comparison with the last year increased from 15.8 to 16.85 million ha, and of spring – from 12.26 to 12.56 million hectares, which will become a record and higher than last year, yield will allow you to collect historically high wheat yield.

 

As at 28 July in Russia from 39.8% of the area or 11.7 million hectares and produced 41.8 million tons of wheat with a yield of 3.57 t/ha.

 

New crop forecasts in Russia and the results of the Egyptian tender, which won the predominantly Russian wheat, have increased pressure on stock prices in the US and the EU.

 

the

  • September futures milling wheat on MATIF fell by 2 €/t to 180,75 €/t or 211,88 $/t

 

pressure On prices strengthening of the Euro against the dollar to a level of 1,173 $/€ and the forecasted by the experts Strategie Grains reduced the production of soft wheat in EU 2020/21 MG below the level of 130 million tonnes and its exports below 30 million tons.

 

the Market for U.S. wheat on Tuesday declined and the September wheat futures in Chicago hit the weekly low. Pressure on prices due to a sharp improvement of the crops of the fall of neighbouring markets of soybeans and corn, as well as the good condition of the spring wheat crops.

 

Winter wheat in the U.S. collected from 81% of areas, compared to 73% last year and 82% average over 5 years. The number of spring wheat in good or excellent condition for the week increased by 2% to 70%, whereas a year ago the figure was 73%.

 

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

the

1.01 $/t to 160,48 $/t for solid winter HRW wheat in Kansas city

0.64 $/t to 186,01 $/t on a firm spring HRS wheat in Minneapolis.

  • 1.56 $/t to 192,35 $/t for SRW soft winter-wheat in Chicago

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