Wheat prices stabilized in anticipation of the new influencers

2019-12-10 12:47:46
Machine translation
Wheat prices stabilized in anticipation of the new influencers

Stock prices for wheat stabilized pending the outcome of the tenders announced by the major importing countries. Before the publication of the December USDA report they did not respond to the lower crop forecast for Australia and report on the quality of wheat in Argentina.

 

In yesterday's forecast experts INTL FCStone estimated the wheat crop in Australia in 2019/20 MG 14.97 million tons, which is 5.6% below the official forecast, released last week. Australia risks losing share in its key markets – Indonesia and South Korea.

 

According to estimates of the Ministry of agriculture of Argentina, in December, the country exported a record 3.8 million tons of wheat. Quality of grain of a new crop is worse than last year. The average protein content is 10.2% compared to 11.5% last season and 10.4% on average for 5 years. Average test weights is 80,57 kg/HL, which is higher than the average 5річний figure – 79 kg/HL.

 

the Market expects to enhance procurement by importers before the Christmas holidays. Ethiopia has announced a tender for purchasing 75 thousand tons of milling wheat of arbitrary origin. And the Egyptian GASC plans today to purchase a minimum of 55-60 thousand tons of soft milling wheat with delivery from 5 to 15 February.

 

the

  • March futures for milling wheat on MATIF remained at the level of 183.25 €/t or 202,82 $/t

 

the Market has supported the recovery in exports of European wheat. For the week, the EU exported 300,9 thousand tons of wheat, and from the beginning of the season (as of 8 December) – 11,947 million tonnes of soft wheat, which is 63% higher than the corresponding figure 2018/19 Mr (last week was in excess of 58%).

 

in Anticipation of the publication of the report USDA professionalscolanti in Chicago, played on the slide. USA for a week have reduced wheat exports by 6% to 313,8 thousand tons and since the beginning of the season implemented 13 million t that on 18% exceeds an indicator of 2018 on this date.

 

March wheat futures in the U.S. fell:

the

1,84 $/t to 156,52 $/t for solid winter HRW wheat in Kansas city.

  • 0.64 $/t to 192,07 $/t for SRW soft winter-wheat in Chicago

Increased by 0,46 $/t to 188,58 $/t hard spring HRS wheat in Minneapolis.

 

Ukraine for the week increased wheat exports by 13% from 279 to 316 thousand tons Export demand for Ukrainian wheat decreased after the growth of prices of offers of wheat with protein 12.5% to 208-212 $/t FOB for January shipments.

 

Prices for January deliveries of Russian wheat protein 12,5% dropped to 210-215 $/t FOB, according to the forecast of experts, will remain at this level or fall further to enhance sales. Over the last week via the grain terminal of Novorossiysk exported 282,375 thousand tons of wheat, which is 23.5% lower than the level of the previous week and 25.8% - to the corresponding period last year.

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