World wheat prices to a new report by the USDA responded with a decline

market Participants do not expect significant changes in the February USDA report on wheat as a crop in the major producing countries are already assembled. However, experts USDA surprised all forecast a sharp increase in the consumption of feed wheat in India and China, resulting in ending stocks although reduced to 9 million tonnes, but will remain at a record level is 304.2 million tonnes.

In a new report forecast global wheat production increased by 0.74 million tons to a record 773,4 million tonnes (763,93 million tonnes in 2019/20 MG), in particular, to Kazakhstan – by 1.76 million tonnes to 14.26 million tonnes (of 11.45 million tonnes in 2019/20 MG), although reduced to Argentina by 0.3 million tons to 17.2 million tonnes (of 19.78 million tonnes in 2019/20 MG) and Pakistan – 0.3 million tons

Forecast of the global consumption of wheat increased from 9.8 million tonnes to 769,3 million (746,98 million tonnes in 2019/20 MG)) due to the increase in consumption by China of feed wheat to feed 5 million tons to a record of 30 million tons (26 million tonnes in 2019/20 MG), India – 3.5 million tons to a record of 96.5 million tonnes and Canada by 0.4 million tonnes to 10 million tonnes.

Forecast of world wheat exports increased by 1.06 million tonnes to 194,84 million tonnes, in particular, Kazakhstan by 0.5 million tons to 7.3 million tonnes, the EU – 0.5 million tons to 27 million tons and India, 0.3 million tonnes to 1.8 million tonnes, which partially compensates for the decrease of exports from Argentina by 0.5 million tons to 11.5 million tons For Russia and the U.S. export forecast was left unchanged.

the Estimation of the global wheat imports increased only 0.2 million tonnes to 189,48 million tonnes, due to the increase of the import forecast for China to 1 million tonnes to 10 million tonnes (5.38 million tonnes in 2019/20 MG) compensates for a decrease of 0.8 million tonnes countries in East Asia and the Middle East.

projected global ending stocks of wheat decreased by 9 million tonnes to is 304.2 million tonnes, which will remain at a record level and exceed 300,1 million tons season 2019/20, although analysts have estimated it 312,86 million tons In particular for China inventory valuation reduced by 4 million tonnes to 154,93 million tonnes (151,68 million tonnes in 2019/20 MG), India – by 3.82 million tons to 27.5 million tonnes (24.7 million t), EU – 0.5 million tons to 10.6 million tonnes (14.3 million tonnes), Canada – 0.4 million tons to 4.63 million tonnes (5.5 million tons).

After the publication of the report of the March wheat futures in the U.S. fell:

• 2.30 $/t to 238,46 $/t for SRW soft winter-wheat in Chicago,
• to 2.20 $/t to 232,77 $/t for solid winter HRW wheat in Kansas city,
• by 3.21 $/t to 230.00 $/t on a firm spring HRS wheat in Minneapolis.

European wheat is cheaper under pressure from the strengthening of the Euro and falling prices in the physical markets.

• the March futures for milling wheat on MATIF fell by 2.75 €/t to 223,75 €/t or 271,41 $/t

it is Expected that the acreage of wheat in France will increase compared to the previous year by 15% to 4.9 million hectares, which is almost equal to the average 5-year average.