Wheat prices rose due to delays sowing in the USA and France

Powerful precipitation in France, which continued from September, a delay of harvesting corn and beets, and winter wheat sowing, which as of 18 November sown only 74% of the area compared to 97% at that date in 2018.

as a result of the rains the number of winter wheat crops that are in good or excellent condition for the week decreased from 84% to 78%. The forecast of further rain will be a speculative factor in rising prices.

On the data about the progress of the sowing campaign in the EU and a reduction in sowing areas of winter wheat in the United States to 100-year low futures on winter wheat in Chicago since the beginning of the week grew by 3% to a month high.

For according to report crops in the U.S., released after the close of trading, shoots were obtained on 87% of areas, compared with 85% last year and 90% the average for the 5 years on that date. In good to excellent condition as of last week, remain 52% germination, whereas a year ago the figure was 55%.

wheat Exports from the U.S. last week fell by 42 tonnes to 420,8 thousand tons, which is 133 thousand tons higher than the corresponding figure last year.

the December wheat futures in the U.S.:

the

4.23 $/t to 160,02 $/t for solid winter HRW wheat in Kansas city

2.02 $/t to 183,07 $/t on a firm spring HRS wheat in Minneapolis.

• by 5.79 $/t to 195,11 $/t for SRW soft winter-wheat in Chicago

the Market for French wheat grew yesterday after Chicago and unfavourable forecasts for the future harvest weather factors in the Northern hemisphere.

wheat Exports from the EU dropped by 98 thousand MT to 314,337 thousand tons and since the beginning of the season amounted to 10.8 million tonnes, which is 59% higher than the corresponding figure last year.

the

• the December futures for milling wheat on MATIF rose by 2 €/t to 181,5 €/t or 199,85 $/t, March – 1% to 182,75 €/t

Export prices for Russian wheat with protein 12.5% for two weeks increased to 210 $/t FOB while demand grew by only 1 $/t 205-206 up to $/t FOB.

the Deficit of soil moisture on winter wheat crops in Ukraine and Russia raises concerns about the fate of the next harvest.

Ukraine per week reduced wheat exports by 17% from 499 to 416 thousand tons, wheat Prices remain unchanged, although the closure of contracts traders sometimes increase the demand.