Wheat prices in the US and EU move in opposite directions

on Wednesday, the French wheat market has focused on the fundamental factors and was not paying attention on the American stock exchange.

the Drought in the North of the EU reduces the forecasts of corn production, which may lead to increased consumption of feed wheat in the new season. The market supports a reduction in the forecasts of wheat production in Ukraine and Russia, as well as the strengthening of the dollar against the Euro.

the Victory of Russian wheat in the Egyptian tender showed that Russian grain more Romanian wheat and close to the price of the French.

the

• September futures for milling wheat on MATIF rose 1.25 €/t to 176,75 €/t or 198,56 $/t

Good weather in the U.S. allowed farmers to accelerate the harvest of winter wheat that prices in Chicago and Kansas city fell slightly.

However, experts too believe in the competitiveness of us wheat and assess the weekly export sales in the range of 200-400 thousand tons compared to 250-550 thousand tons last week.

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

the

1.65 $/t to 162,31 $/t for solid winter HRW wheat in Kansas city

0.92 $/t to 193,91 $/t on a firm spring HRS wheat in Minneapolis.

• 0.73 $/t to 185,74 $/t for SRW soft winter-wheat in Chicago

In Ukraine on 17 July with 3.7 million hectares or 57% of the area harvested 13.8 million tons of wheat with a yield of 3.67 t/ha. Preliminary yield below togoro, and precipitation in the Western regions worsened the quality of grain, because it has a smut. Next week warm and dry weather will allow to strengthen the collection and increase the number of proposals.

In Russia on July 16, with 7.9 million hectares harvested 29.6 million MT of wheat with a yield of 3.76 t/ha, down from 3.87 t/ha in 2018 Precipitation and decrease in temperature had a positive effect on the condition of crops of spring wheat and other crops due to which wheat production can reach 74-75 million tonnes, with the Victory of Russian wheat in the Egyptian tender has raised prices for wheat with protein of 12.55 to 195-197 $/t FOB.