The price of wheat awaiting the data from Argentina and Australia

2020-11-17 12:07:35
Machine translation
The price of wheat awaiting the data from Argentina and Australia

Improvement of crops in the United States and precipitation in Russia has not led to a decline in wheat prices, which continue to grow after neighbouring markets of soybeans and corn.

 

According to the USDA, as of November 15 winter wheat planted 96% of the planned areas compared to 94% a year ago and 94% on average for 5 years. Shoots were obtained on 85% of crops compared with 82% a year ago and 84% on average for 5 years. For a week the number of crops in good or excellent condition increased by 1% to 46%, whereas a year ago the figure was 52%. 48 agricultural States, the water deficit in the upper soil layer is felt at 41% of the area, compared with 44% a week ago and 18% a year ago.

 

Also, the quotes supported the depreciation of the dollar against a basket of major currencies.

 

December futures U.S.:

the

2.21 $/ton to 205,03 $/t for solid winter HRW wheat in Kansas city.

  • 1.65 $/t to 219,72 $/t for SRW soft winter-wheat in Chicago

Decreased on 0,09 $/t to 203,74 $/t hard spring HRS wheat in Minneapolis.

 

the EU Countries (with the UK) in 2020/21 MG as at 15 Nov exported 8,503 million tonnes of soft wheat, which is 22% less than the same indicator 2019/20 Mr. However, the difference is decreasing for the second consecutive week, primarily due to shipments to China, which has already sent 1,151 million tons of soft European (mostly French) of wheat, 110,5% higher than the corresponding period last year. Currently, China is the second after Algeria buyer of European wheat.

 

unlike Chicago, the Paris stock exchange ended yesterday's trading in the red under pressure from the strengthening Euro and increased competition from Australian wheat, which has a competitive price. Disappointed traders a relatively significant amount of export quotas for Russian wheat on the 2 half of the season.

 

the

  • December futures for milling wheat on MATIF fell by 0.75 €/t to 209,25 €/t or 248,18 $/t

 

Forecast for next week is precipitation in the form of snow and rain in the Krasnodar and Stavropol Krai and Rostov region reduce anxiety regarding the fate of the next harvest.

 

Prices of Russian wheat remained at the level of 250-255 $/t FOB, as the expected decline in prices has stopped the rise in European wheat.

 

In Australia, the wheat is gathered 20% of the area, which increases competition, especially in markets in Southeast Asia, where Australian wheat, which is offered at 275 $/t C&F, displaces the black sea.

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