Wheat prices on the exchanges fall, and the physical markets continue to grow
After a sharp rise in wheat prices by 5-8% traders began to fix profit that launched the stock prices down.
however, following the exchanges yesterday continued to grow the physical markets, where, after the black sea wheat prices on European also increased to 240 $/t FOB. Dry weather in Russia increases concerns about the winter wheat crops.
On the stock exchange in Chicago, Wednesday grew after Chicago yesterday, also began to fix their profits. In addition, prices were affected by the intensification of sales by French manufacturers.
the
- December futures for milling wheat on MATIF fell by 0.75 €/t to 197 €/t or 231,07 $/t
However, the drop in prices has limited the difficult conditions for planting in certain regions of Ukraine and Russia, as well as strong demand for French wheat from China.
US export sales of wheat increased during the week by 44% to 506 thousand tons, and from the beginning of the season has reached 14 million tons, which is 8.4% higher than the corresponding figure 2019 Actual export of wheat over the week grew by 37% to 647 thousand tons, and the total in the season to 8.79 million tonnes, which is 4% higher than last year's pace.
December futures in the U.S. fell:
the
1.19 $/ton to 186,10 $/t for solid winter HRW wheat in Kansas city
2.48 $/t to 196,02 $/t on a firm spring HRS wheat in Minneapolis.
- 2.85 $/t to 209,53 $/t for SRW soft winter-wheat in Chicago
According Agrisensus, prices for French wheat grew 239-240 $/ton, German – to 236,25-237,5 $/MT, Baltic – to 231,5 $/t after the Ukrainian and Russian wheat has risen to 237 to 240 $/t FOB.
In Argentina, prices for wheat with protein 11.5% and November delivery are 220-225 $/t FOB Up River.
Buyers who have received a variety of proposals costly wheat will not look for a cheap black sea wheat, and will choose the cheapest logistics and discounts from sellers.
