Wheat prices in the U.S. rose despite a neutral balance USDA

balance December USDA for wheat was almost unchanged compared to November, but only thanks to growth of production and ending stocks in China, while the forecasts of the harvest and of wheat exports for Argentina and Australia have reduced expectations of traders. Balance for US is not changed, only increased the estimate of exports.

In comparison with the previous report, the forecast of wheat production in China increased by 1.59 million tonnes to 133,59 million tonnes, Russia by 0.5 million tonnes to 74.5 million tonnes, the EU – on 0,5 million tonnes to 153,5 mln t, although the European Commission has estimated it at 155,8 million tons increase in the production of compens reduce estimates of the wheat harvest in Argentina by 1 million tons to 19 million tons, Australia by 1.1 million tonnes to 16.1 million tonnes, Canada at 0.65 million tons to 32.4 million tons.

the Forecast of world trade was reduced by 0.87 million tonnes to 179,81 million tons as the estimate of wheat exports from Argentina reduced by 1 million tonnes to 13 million tonnes, Australia's by 0.6 million tonnes to 8.4 million tonnes, of Canada, by 0.5 million tons to 24 million tons, whereas for Russia it increased by 0.5 million tons to 34.5 million tons and the United States by 0.68 million tonnes to 26.5 million tonnes.

Valek reduction of the forecast of world consumption of wheat by 1.41 million tonnes, the estimate for ending stocks in 2019/20 Mr increased by 1.22 million tonnes to 289,5 million tons.

Despite the neutral overall report, the U.S. markets responded with rising prices due to pmviding the forecast of exports for the United States and reducing ending stocks.

March wheat futures in the U.S.:

1.93 $/t to 158,45 $/t for solid winter HRW wheat in Kansas city

1.75 $/t to 190,33 $/t on a firm spring HRS wheat in Minneapolis.

• 0.37 $/t to 192,44 $/t for SRW soft winter-wheat in Chicago