Wheat prices in the US are falling, but in Europe they are supported by speculators

2021-02-12 12:02:16
Machine translation
Wheat prices in the US are falling, but in Europe they are supported by speculators

After an unexpected decline forecast of ending stocks of wheat in the February USDA report, the price of wheat went into decline following the decline in corn prices, which remain under pressure better weather in South America.

 

as a Result of the long new year weekend in Asian demand for Australian wheat and Argentine corn, which increases pressure on prices.

 

After the active growth of prices on the eve of traders on US exchanges began to conduct speculative sale on expectations of a decline in exports of wheat from the United States.

 

Export sales of wheat from the U.S. last week fell by 8% to 591 thousand tons, but only in the season amounted to 23 million tons, which is 5% higher than last year's rates (last week was 5.4 per cent).

 

wheat Exports from the U.S. last week fell by 12% to 439 thousand tons, but only in the season amounted to 16.4 million tons, which is 1% less than the corresponding period last year.

 

supported by Several quotes forecasts temperatures in the Central and southern regions of the American Plains significantly below "the level of the death of winter" in the absence of snow cover.

 

the March wheat futures in the U.S. fell for the last two days:

  • by 5.88 $/t to 232,77 $/t for SRW soft winter-wheat in Chicago,
  • by 8.26 $/t to 224,50 $/t for solid winter HRW wheat in Kansas city,
  • by 3.77 $/t to 226,43 $/t on a firm spring HRS wheat in Minneapolis.

 

Prices for French wheat after upgrading week low due to high export demand and speculators yesterday turned up.

 

Traders concerned about the frosts are coming to Europe, although the risks are more related to a complication of transportation because of the freezing of the rivers than the damage winter crops.

 

  • the March futures for milling wheat on MATIF rose by €1/t to 222,5 €/t or 269,75 $/t

 

By speculators March futures black sea wheat on the stock exchange in Chicago yesterday rose 1% to 281 $/t, and August by 0.2% to 240,5 $/t

 

against the background of falling prices on world markets and an increase in supply of black sea wheat prices of Russian wheat fell to 280-285 $/t FOB, and the Ukrainian – before 278-280 $/t FOB.

 

Purchase prices for wheat in Ukraine for the week fell into a port on 10-15 $/t to 265-270 $/t or 8850-8950 UAH/t, which has helped to promote the purchase of processors, which at the beginning of the week and was paid for wheat delivered to the plant 9000-9200 UAH/ton, and at the end of the week lowered the price to 8700-8900 UAH/t.

 

the Following weeks cold weather will stop the fall in the price of wheat, but the spring increase in supply will increase pressure on prices.

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