Wheat prices in Ukraine fall behind the world
a Sharp decline in purchase prices for the tender in Egypt led to the fall of prices for black sea wheat, which was more expensive than European. World prices under pressure large stocks of wheat in Russia and the increase in forecasts of exports from the US and the EU, as well as the likelihood of a record crop in India and Russia amid falling forward prices for grain from the new harvest.
In Ukraine the price of wheat for two weeks I lost 10-12 $/t and right now the traders at the port offer:
forage – 194 to 197 $/t or 5650-5700 UAH/t
- for food wheat 200-203 $/t or 5750-5850 UAH/t,
Most traders because of the shortage of supply and the impossibility of formation of export shipments refused the purchase of wheat in favor of corn.
Prices of Russian wheat fell to 220-223 $/t FOB, although demand remains low as buyers await further price declines.
Experts Strategie Grains forecast the soft wheat crop in Russia in 2020 at 82 million tonnes, which will become the second most important indicator after record crop production in 2017/18 MG. At the same time the forecast of production of soft wheat in the EU in comparison with the assessments of January reduced with up to 139,8 138,6 million tonnes due to problems with sowing in some regions of Western Europe. While its forecast for EU exports in 2019/20 Mr increased from 30.5 to 30.6 million tons.
the Paris stock exchange on Thursday has grown with the support of the increase of forecasts of the export in the current and following seasons, as well as further weakening of the Euro. Traders do not pay attention to speculative price drop in Chicago.
- March futures for milling wheat on MATIF rose by 0.25 €/t to 192,75 €/t or 208,88 $/t
In Chicago yesterday, speculators have lowered the prices on the news about another collapse of the stock and commodity markets due to the deterioration of the situation with coronaviruses, which increases the concern about the state of the world economy.
the strengthening of the dollar affects the export prospects of American grain, but for the week, export sales of US wheat increased by 8% to 643 thousand tons Export shipments of wheat over the week grew by 25% to 506,3 thousand tons, which is by 19.59% higher than the corresponding period last year. Since the beginning of the season, the United States exported 16,615 million tons of wheat, of 14.09% over the previous season.
March wheat futures in the U.S. fell:
1,84 $/t to 171,22 $/t for solid winter HRW wheat in Kansas city
1.65 $/t to 193,54 $/t on a firm spring HRS wheat in Minneapolis.
- 1.19 $/ton to 199,97 $/t for SRW soft winter-wheat in Chicago