Wheat prices fell to 2-month low

Drop in financial and commodity markets on the background of coronaviruses likely caused by the global economic crisis led to lower wheat prices. Bear was the report of the IGC for February, in which the estimate for ending stocks of wheat in 2019/20 Mr increased in comparison with January – 1 million tonnes to 274,98 million tons and the forecast of world wheat production - up to 763,2 million tons, primarily due to India and the European Union. Thus, the previous record world wheat production 761,8 million tonnes in 2017/18 mounted MG, be broken.

the World's wheat stocks will increase due to India, China and the EU.

Due to the expansion of acreage by 2% in world wheat production in 2020/21 MG can grow up to 769 million tonnes, which will become a new historical record.

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• the May futures for milling wheat on MATIF fell by 2 €/t to 2-month low of 187 €/t or 205,48 $/t

the price of soft wheat in Chicago fell to the lowest in 2.5 months. The market pressure low export sales of US wheat, which rose for the week by 10% until 381,8 thousand tons, but still 23% inferior to the average of the last 4 weeks and expert expectations.

wheat Exports from the U.S. last week fell by 32% to 408 thousand tons.

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

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by 2.75 $/ton to 165,99 $/t for solid winter HRW wheat in Kansas city

2.21 $/ton to 192,53 $/t on a firm spring HRS wheat in Minneapolis.

• by 3.03 $/t to 193,82 $/t for SRW soft winter-wheat in Chicago