Wheat prices reached the highest over the last 5 years levels

2020-10-07 12:03:56
Machine translation
Wheat prices reached the highest over the last 5 years levels

Yesterday, the speculators amid unfavorable for winter wheat drought warmed up wheat prices on world markets to historic highs.

 

the December wheat futures in Chicago reached the highest since June 30 2015 level on data about increasing soil moisture deficit in the United States that may impair future harvest. In Argentina, where November begins the wheat harvest also continues to be a drought.

 

in addition, it is expected that in its October report, USDA forecast world wheat stocks will be reduced by 2 million tons.

 

December futures U.S.:

the

by 3.67 $/ton to 196,30 $/t for solid winter HRW wheat in Kansas city

1.01 $/t to 197,77 $/t on a firm spring HRS wheat in Minneapolis.

  • 3.12 $/t to 217,79 $/t for SRW soft winter-wheat in Chicago

 

On the Paris stock exchange, where traders concerned by news about the drought in the major exporting countries of wheat December futures in the course of trading reached a record of 201 €/t. However, some experts believe that the oversold market and the high prices scare away some potential buyers.

 

Support quotes the results of the tender in Tunisia, where the state Agency ODC acquired a 92 thousand MT of wheat for delivery in October-November at a price 263,27-266,39 $/t CFR, which is for 6-9 $/t higher than the bid prices submitted for tender in September, when Tunisia refused to purchase.

 

the

  • December futures for milling wheat on MATIF rose by 2.25 €/t to 200 €/t or 234,64 $/t

 

Rise in price of December futures for black sea wheat by 1.3% to 243 $/t in March and 1.6% to 246 $/t indicates the expectations of the traders in the further growth of prices for black sea grain.

 

Russia in September exported a record 5 million tonnes of wheat, demand for which remains high due to containment of sales of the European producers and high prices for American wheat.

 

Buyers expect an updated balance USDA, and the increase of proposals of Argentine and Australian wheat may be somewhat lower prices for physical markets, particularly in Asia.

 

In Ukraine, purchasing prices for wheat reached a record in the port 223-228 $/t or 7600-7700 UAH/t on the background of deficit of proposals and speculative price increases on the world markets.

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