Wheat in Ukraine and USA is cheaper despite the good export
Thursday quotes of the American wheat continued to fall, mainly due to the rapid strengthening of the dollar, which rose against other major currencies to the highest in 9 months.
has been unable to support prices even a good amount of weekly exports. Due to the increasing demand for high-protein winter wheat and spring durum wheat for export was able to realize 769 thousand tons.
the cost of the December futures for the American wheat was down:
- 0.74 $/tonne to 148,72 $/tones of soft wheat SRW in Chicago
- 0.55 $/tonne to 150,19 $/tone for hard wheat HRW in Kansas city
of $0.18/ton to 189,23 $/ton increased the price of hard spring wheat HRS in Minneapolis.
the Demand for black sea wheat has remained stable, especially against the backdrop of the announcement by Egypt on November 11 an extraordinary tender for the purchase of 55-60 thousand tons borodoulina soft wheat for delivery in the period 15-25 December. In the previous tender, which was conducted 08.11.16 was purchased 240 thousand tons of Russian and Romanian wheat.
MATIF wheat quotations rose to 161,50 EUR/ton.
On the basis of CPT-port price of Ukrainian wheat is still at the level:
- 2 grade - 160-163 $/ton or 4750-4800 UAH/ton,
- 3 grade - 156-160 $/ton or 4650-4750 UAH/ton,
- feed - 145-149 $/ton or 4350-4550 UAH/ton.
But traders reduce their purchases because they are unable to transport sufficient volumes of wheat to the port because of congestion of the road. Therefore, it may be a situation when at high world prices and active purchases of Ukrainian wheat will not, and traders will move to the Russian market.