Wheat prices rose due to strong demand

2019-10-24 12:51:57
Machine translation
Wheat prices rose due to strong demand

Substantial increase in procurement prices for tenders in Algeria, Tunisia and Turkey, where the victory was won mainly European wheat, are unable to influence market quotations for wheat in the EU.

 

the Paris stock exchange on Wednesday recorded a profit after achieved before the maximum of 3 months. However, traders took into account the relatively low rate of shipments from the ports of France.

 

  • the December futures for milling wheat on MATIF remained at 181 €/t or 201,63 $/t

 

Ethiopia announces two tenders for the purchase of 600 thousand tons of milling wheat on the basis of FOB with delivery in December-January, of which 200 thousand tons is planned to purchase 29 October, and another 400 thousand t – 5 November.

 

After a two-day drop the exchange in Chicago on Wednesday resumed growth. The investors have been speculative purchases and covered short positions on the background of the procurement tenders in the major countries-importers. Although U.S. wheat did not participate, the results of the auction indicate the growth of the global market. Therefore, experts have raised expectations weekly export 300-600 thousand tons.

 

the December wheat futures in the U.S.:

0.74 $/t to 155,51 $/t for solid winter HRW wheat in Kansas city

1.19 $/ton to 199,24 $/t on a firm spring HRS wheat in Minneapolis.

  • 1.01 $/t to 191,34 $/t for SRW soft winter-wheat in Chicago

 

In Canada predicted precipitation with snow and temperatures drop to 3-9 degrees below zero will lead to partial losses of crops of spring wheat, so traders are waiting for updated data on the progress of the harvest of canola and wheat in the country.

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