Wheat prices expected factors support from the new USDA report

in Anticipation of the publication of the report USDA the wheat market remains in search of new factors. Wheat prices in the U.S. rise on the projected heat gain in Russia, whereas in Europe they have crushes strengthening of the Euro and due to favorable weather conditions forecasts a good harvest.

Pessimism added rumors about the intentions of Saudi Arabia since July to open up the market for the supply of Russian wheat.

• September futures for milling wheat on MATIF fell by 1.75 €/t to 177,25 €/t or 200,45 $/t

the Chicago stock Exchange started the week with confident growth on forecasts of dry and hot weather in some regions of Russia, which will last another two weeks.

wheat Exports from the U.S. for the week decreased by 21% to 464,78 thousand tons, which is 10% higher than the corresponding period last year.

made public on completion of the auction the report on crops in the United States did not surprise traders. The condition of winter wheat during the week has not changed. Spring wheat planted 97% of the planned areas compared with an average of 99%. Shoots were obtained on 85% of space compared to 93% on average for 5 years. In good or excellent condition are 81% of the spring wheat and 64% of the winter, whereas last year this figure was 70% and 38%, respectively.

the July wheat futures in the U.S.:

1.47 $/t to 166,45 $/t for solid winter HRW wheat in Kansas city

• at 1.10 $/t to 186,47 $/t for SRW soft winter-wheat in Chicago

Only fell by 0.09 $/t to 208,88 $/t hard spring HRS wheat in Minneapolis.

Export prices for Russian wheat of the new harvest has stabilized after a sharp rise last week, due to forecasts of hot and dry weather in some regions of the country.

Prices for Russian wheat with protein of 12.5% for delivery in July dropped to 195 $/MT FOB compared to 197 $/MT FOB last week.