Wheat prices continue to rise because of lower production forecasts

2019-07-26 12:45:46
Machine translation
Wheat prices continue to rise because of lower production forecasts

Experts IGC has significantly reduced the forecast of world production and ending stocks of wheat in 2019/20 Mr.

 

the European Commission also lowered its forecast of production of soft wheat in EU countries, and Russian analysts have once again lowered his estimates of grain yield.

 

the Forecast of grain exports and by-products to Russia reduced by 7 million tons to 41.9 million tons, in particular for wheat, 6.2 million tonnes to 31.4 million tonnes, which is the most pessimistic evaluation for the new season.

 

Experts IKAR forecast grain exports at the level of 42,5 mln tons, including wheat – 33.2 million t ProAgro believe that grain exports will amount to 44 million tons, of which wheat and 35 million tons In the Ministry of agriculture of the Russian Federation the forecast of grain exports left at the level of 45 mln tonnes, including wheat – 36 million tons.

 

the New predictions supported world prices for wheat.

 

  • September futures for milling wheat on MATIF rose by 0.5 €/t to 175,75 €/t or 195,92 $/t

 

the price Growth limits the forecast to an abundant crop of soft wheat in the EU, which will significantly exceed last year, despite the recent decline in estimates of production.

 

the Chicago stock Exchange the second day of the growing data on crop-tour through the fields of the US, which showed heterogeneous and lower than last year, the yield of wheat.

 

the Export of wheat over the week grew by 90% to 659,7 thousand tons, which is 70.9 per cent exceeds the indicator of the corresponding period 2018

 

Only area in Kansas city ended with a minus after the average yield of hard winter wheat according to preliminary data amounted to 43.1 bushels/acre compared to 41.1 bushels/acre.

 

the September wheat futures in the U.S.:

0.28 $/t to 192,17 $/t on a firm spring HRS wheat in Minneapolis.

  • 0.64 $/t to 183,583 $/t for SRW soft winter-wheat in Chicago

Fell 0.73 $/t to 160,75 $/MT of hard winter HRW wheat in Kansas city.

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