Wheat prices remain under pressure from low demand and weather factors

heavy rainfall, which soon will pass in Ukraine, Russia and Romania, which suffered most from the April drought, will improve the condition of the crops. In the United States in the regions of cultivation of wheat also the rains, whereas in France will prevail, dry weather.

Trading on the stock exchange in Paris on Friday were forced by weather factors. Rains in some EU countries, particularly in Poland and Germany, and in the South of Russia lowered the price.

Due to precipitation in France, the number of winter wheat crops are in good or excellent condition increased by 2% to 57%, significantly lower than the level of last year. However, weekly exports of French wheat at 234,6 thousand t supported the market.

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• September futures for milling wheat on MATIF fell by 1.75 €/t to 188,25 €/t 205 or $/t

the wheat Futures in Chicago after 3 days of growth turned down, as investors started to fix profits ahead of long weekend.

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

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by 3.67 $/ton to 163,32 $/t for solid winter HRW wheat in Kansas city

1,84 $/t to 188,49 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.66 $/t to 186,93 $/t for SRW soft winter-wheat in Chicago

In Russia, spring wheat planted 9.7 million hectares, or 79,4% of the area, which is 24% higher than last year's pace.

the Russian wheat protein 12,5% offer to put in July at a price of 200 $/t FOB, although demand remains low.

In anticipation of further price declines, buyers from the Philippines acquired from the planned four, only one ship feed wheat for delivery in July-August at a price of 210 $/t CFR.

Vietnam purchased a shipment of new crop wheat from Australia with delivery in November at a price of 235 $/t CFR.

Ukraine per week reduced the exports of wheat doubled, up to 244 thousand tons, and the total in 2019/20 MG increased its exports in comparison with the previous season, 35% to 19.9 million tons.

Given the exported 308 thousand tons of flour, at present, the exports of wheat and products of its processing exceeds agreed by government at this season of 20.2 million tons as of may 1, wheat stocks in Ukraine amounted to 2828,6 thousand tons compared to 3377,2 kt on this date in 2019