Wheat quotes for the day increased by 5.5%

2021-04-23 12:01:25
Machine translation
Wheat quotes for the day increased by 5.5%

Yesterday, speculators received a new factor of support for wheat prices in the form of an increase in the consumption of feed wheat instead of corn, the harvest of which may decrease. In addition, the impact on Frost prices in wheat-growing regions in the United States also remains.

 

Corn prices are rising amid low sowing rates in the United States and forecasts of a drought in Brazil, which may reduce the second corn crop.

 

The market was supported by the Icarus agency's decline in the forecast of wheat production in Russia from 81 to 79.5 million tons due to the poor condition of some winter wheat crops in the central regions of the country. Although 10 days ago, this agency raised the estimate of the wheat harvest from 79.8 to 81 million tons.

 

May futures rose:

  • by 1 13.60 / ton to Чикаго 260.97/ton for soft winter SRW wheat in Chicago,
  • by 1 13.50 / ton to H 245.26/ton for hard winter HRW wheat in Kansas City,
  • by 1 11.02/ton to.260.32 / ton for hard spring HRS wheat in Minneapolis.    

 

Weekly export sales of wheat from the United States amounted to 240 thousand tons, and sales of new crop wheat – 373.8 thousand tons, which corresponds to the lower limit of expert expectations.

 

French soft wheat is soaring for the second day in a row after Chicago. Prices were also supported by rumors about China's intentions to purchase at least 500 thousand tons of French wheat of the new crop.

 

  • May wheat flour futures on the MATIF Exchange yesterday rose by 7 €/T to 238.50 €/t or 2 287.09/t, and September – by 7.5 €/t to 220.75 €/t or 2 265.56/t.

 

July Black Sea wheat futures on the Chicago Stock Exchange rose 3.8% to.262/ton yesterday.

 

Purchase prices for wheat in Ukraine rose sharply to 7400-7600 UAH/ton or 232-238 $/ton for deliveries to the port in April – May, but producers stopped sales in anticipation of further price increases, although the weather in the country contributes to the development of winter and spring crops.

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