The results of the tenders in Egypt and Jordan supported the prices of wheat on the stock exchanges

After a strong decline in prices on the stock exchanges on Monday, traders followed closely the results of the tender in Egypt waiting for lower purchase prices, but asking prices-especially of Russian wheat has grown and grain Agency GASC bought only two cargoes of Ukrainian wheat the cheapest one.

the Average purchase price of wheat in the tender in Egypt virtually unchanged compared with the previous tender last week and were at the level of 211,14 $/t FOB or 225,82 $/t C&F.

a Major factor in the growth of prices of offers of Russian wheat were the forecasts of reduction of the harvest in the main regions of cultivation and export of quality wheat. Analysts estimate that farmers in Krasnodar region this season can lose up to 30% of the wheat crop in comparison with last year, the Stavropol territory and the Rostov region of 15-20%, although due to the dry and hot weather the proportion of quality grain almost fell.

the Ministry of industry and trade of Jordan at the tender on July 21 purchased 60 thousand tons of milling wheat with protein 12.5% of Russian origin have a Aston for the price of 235,50 $/t C&F for delivery in the 2nd half of October.

Ethiopia has again postponed the tender for the purchase of 400 thousand tons of wheat on July 24 due to high bid prices.

Foreign service of the Department of agriculture (FAS USDA) reduced the forecast of wheat production in Kazakhstan at 700 THD. MT in comparison with the July USDA report to 12.8 million tonnes, although this was 1,348 million tonnes more than in 2019.

the September wheat quotations on the Matif exchange in Paris yesterday, recovering after falling on Monday and rose 1.25 E/t to 183 a/t, but thanks to an increase in the Euro prices in dollars rose to 211,27$/t Support to quotations render the price increase for Russian wheat.

on Tuesday, the wheat area in Chicago played a small part of the heavy losses the previous three trading days. Played primarily using the dollar exchange rate is after a surge the day before decreased. Also on the outcome of the bidding was affected by a slowdown in winter wheat harvest, albeit not fundamental. On July 19, was removed 74% of the crop, while the market expected 79%.

September quotes of the American wheat have risen:

the

• soft Wheat SRW in Chicago by $2.11 to 193,91 $/t;
• the
• hard Wheat HRW in Kansas city for $2.76 to 162,59 $/t;
• the
• hard Wheat HRS in Minneapolis by $1.47-187,57 $/TA.

In Ukraine yesterday, a decrease of procurement price of wheat by traders on the$2-3/t to 190-193$/t delivery port, or 50-100 UAH/t to 5300-5350 UAH/t, despite the continued growth of the dollar against the hryvnia.