Wheat prices started the week with growth

2019-06-18 12:17:23
Wheat prices started the week with growth

After prolonged rainfall caused by rising prices for wheat, soybeans and corn in the US, quotes, European and black sea wheat is also raised.

 

Factor a good harvest of wheat in France blocked the 6-day growth of the exchange in Chicago. The European Agency MARS in the June report increased the yield forecasts of the main crops for EU countries, in particular the yield of wheat increased to 5.88 MT/ha, up from 5.71 t/ha on average for 5 years.

 

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  • September futures for milling wheat on MATIF rose yesterday by 2 €/t to a two-week high 182,75 €/t or 205,29 $/t

 

French exporters expect an increase in demand from Mexican processors after a rise in wheat prices in Chicago. Since the beginning of the season, the EU countries exported 19,852 million tonnes of soft wheat, which is 3% below the corresponding indicator 2017/18 MG. Significant competition the French grain may be Russian wheat. Delayed sowing in the U.S. raises corn prices and the demand for fodder, which gives additional advantages for the Russian grain.

 

the Agency ABARE reduced in comparison with the March report estimate of wheat exports from Australia to 2019/20 Mr 18% to 11.7 million tonnes, as forecast wheat production decreased by 11%.

 

In Chicago prices are rising 6th day in a row on the news about heat and drought in the regions of cultivation of wheat in Australia and Russia, and investors are speculative purchase.

 

Traders worried about the quality and volume of soft wheat of the new harvest. According to the report, NASS USDA, through the rains in Kansas and the Southern Plains, now in the U.S. collected only 8% of winter wheat in comparison with 20% on average for 5 years. In addition, the number of crops of spring wheat in good or excellent condition decreased from 82% to 77%.

 

the July wheat futures in the U.S. fell:

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at 1.10 $/t to 205,85 $/t on a firm spring HRS wheat in Minneapolis.

  • 0.28 $/t to 174,71 $/t for solid winter HRW wheat in Kansas city

However, rose 0.37 $/t to 198,23 $/ton SRW soft winter-wheat in Chicago.

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