Wheat prices are rising, despite the increase in volumes of offers

the price of wheat on global markets on Friday rose sharply after the publication of a new forecast by the IGC, even in spite of the improvement of yields in France and in Russia, with the progress of cleaning.

Good weather has helped to promote the wheat harvest in major exporting countries, source of more and more reports of good quality and grain yield.
French farmers as of July 20, threshed 71% of the area under wheat compared to 55% at the same date last year. In the Northern regions wheat yields are higher than in the South.

Ministry of agriculture of Romania has increased compared to the previous estimate forecast wheat production in 2020 from 5.4 to 6-6. 5 million tonnes compared to 8.7 million tons in 2019, the Export of wheat from the country in comparison with the previous year decreased from 6 to 3 million tons.

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• September futures milling wheat on MATIF rose by 2.25 €/t to 185,75 €/t or 216,52 $/t, despite the sharp strengthening of the Euro against the dollar.

Prices support curbing sales to European farmers, while export demand remains low.

Rumors about the revitalization of China's grain import in the second half to give the French traders hope that, like last season, the PRC will continue to buy wheat from France.

In Russia, as you move the cleaning to the North the yields are close to last year. As of 24 July from 9.9 million hectares and produced 35.4 million tons of wheat with a yield of 3.56 t/ha, whereas last year at this time, with 10 million hectares have collected 37 million tons of wheat with a yield of 3,7 t/ha.

For the week, Russia increased wheat exports to 905 thousand tons, and from the beginning of the season has sold 1.4 million tonnes, which is 14% below the corresponding period last year.

In Ukraine as of July 23, with 3.5 million hectares or 53% of the area harvested 12.8 million tons of wheat with a yield of 3.66 t/ha, whereas on 24 July 2019, with 74% of the area was collected 18.9 million tons of wheat with a yield of 3.85 t/ha (3,42 t/ha in 2018). The export of wheat over the week grew by 79% to 412 thousand tons.

September futures on the black sea wheat rose yesterday by 1.7% to 215, and December - by 0.7% to 219,5.

Wheat exchange USA to finish the week a sharp rise on the background of the fall in the dollar to 2-year low. The market was supported by rumors of China's intent to step up grain imports in the second half and the first fully to choose the WTO quota on imports of wheat and corn.

the September wheat futures in the U.S.:

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by 3.03 $/t to 165,16 $/t for solid winter HRW wheat in Kansas city

1.93 $/t to 189,32 $/t on a firm spring HRS wheat in Minneapolis.

• by 3.67 $/ton to 198,23 $/t for SRW soft winter-wheat in Chicago

Canada per week exported 565 thousand MT of wheat, and in General in 2019/20 mg of exports amounted to 17.3 million tons, which is 1% below the corresponding indicator of the previous season.