Wheat prices fell after the holidays

2019-04-24 12:02:58
Machine translation
Wheat prices fell after the holidays

due to the celebration of Easter European markets on Friday and Monday were not working, and on Tuesday, the auction took place under the pressure of falling prices in Chicago, reduction of exports and increase of crop forecasts.

 

  • despite the decline of the Euro against 1,12 $/€ may wheat futures MATIF fell 0.5% to 182,5 €/t or 204,69 $/ton, and September by 1% to a historic low 172,75 €/t or 193,64 $/t

 

wheat Exports from the EU for the week decreased by 38% to 317 thousand tonnes, but in the whole season, exported 16.5 million tons, which is 1.7% below the corresponding period last year.

 

May futures on soft wheat in Chicago after the previous fall to 1.5-month low on Tuesday rebounded slightly. Investors lock in profits and conduct technical buying.

 

prices are not influenced by data on the NASS report, according to which the week number of winter wheat crops in the U.S. that are in good or excellent condition increased by 2% to 62%, which was the best figure since 2010. However, spring wheat is sowed only 5% of the planned areas against the average 5-year index on this date is 22%.

 

May futures U.S.:

1.01 $/t to 152,30 $/ton for solid winter HRW wheat in Kansas city

0.74 $/t to 187,85 $/t on a firm spring HRS wheat in Minneapolis.

  • at 1.10 $/t to 161,21 $/t for SRW soft winter-wheat in Chicago

 

In Russia the main news yesterday was the announcement creating the largest private exporters, "Aston", "Glencore Agroomsk", "OZK-South", "Trade house "RIF" at the request of the Ministry of agriculture of the new body, which will coordinate the work of the grain market and to provide information to government and business.

 

it is Expected that the Union grain exporters will soon unite the largest market participants, which actively cooperate with the Ministry of agriculture in improving the regulatory framework, strengthening control over the quality and safety of grain, enhancing exports and other issues. The Executive Director of the Union would be the Deputy Director of UGC Edward Bean.

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