The price of wheat falling under the pressure of low demand
In Thursday trading on the wheat exchange in Paris took place under the pressure of low demand and forecasts of future exports.
the European Commission has increased the forecast of production of soft wheat in the EU in 2018 with a 127.4 to 129.2 million tons, but the estimate of exports was left unchanged at 20 million tonnes, down from 21.3 million tons in the previous my.
In the commodity and commodity markets was negatively impacted by the arrest in Canada of a top Manager of the Chinese Huawei technology Corporation, made at the request of the United States, which put in jeopardy the achieved in Argentina between the leaders of the US-China agreement.
- March milling wheat quotations on the MATIF in Paris fell by 0.5 €/t to 202 €/t or 229,78 $/t
Low export remains the main factor of pressure on the wheat exchange, the United States, especially given the success of Russian wheat on world markets, particularly in Egypt, where the tender was purchased 350 thousand tons of Russian and Ukrainian wheat.
The quotes are also influenced by the increase in the valuation of wheat production in Canada, with previously projected 31 million tons to 31.8 million tons by 5.95% and will exceed the crop of last season.
March wheat futures on us exchanges fell:
0,92 $/t to 182,06 $/t for solid winter HRW wheat in Kansas city
at 2.30 $/t to 209,16 $/t on a firm spring HRS wheat in Minneapolis.
- 0,92 $/t to 189,41 $/t for SRW soft winter-wheat in Chicago