Wheat prices stayed pending data on the sowing of winter crops

2020-10-21 12:14:57
Machine translation
Wheat prices stayed pending data on the sowing of winter crops

the Stock price of wheat in the United States yesterday continued a 5-day growth on data about dry weather in the United States and Russia, despite the projected regions of the wheat growing precipitation and higher than average rates of sowing of winter wheat in the United States.

 

December futures U.S.:

the

by 2.94 $/t to its highest since August 2018 level 209,80 $/t for solid winter HRW wheat in Kansas city

3.12 $/t to its highest since February 2019 level 212,28 $/t on a firm spring HRS wheat in Minneapolis.

  • 1,84 $/tonne to the highest since December 2014 the level of 232,22 $/t for SRW soft winter-wheat in Chicago

 

This week prices will support the new tenders, which will be held by Algeria, Ethiopia, Japan, Philippines, Thailand and South Korea.

 

Traders on the stock exchange in Paris took into account precipitation forecasts in some major countries – producers of wheat, in particular Argentina, and decided to await the outcome of the Algerian tender. After 7 days of growth, when the French wheat have risen by 12.75 €/t, the market turned down.

 

the

  • December futures for milling wheat on MATIF fell by 0.5 €/t to 211,25 €/t or 248,4 $/t, while March traded at 209 €/t, may – at the 207,5 €/t in September – at 192,25 €/t

 

This suggests that traders expect lower prices for wheat in the future.

 

the

  • December futures for black sea wheat trading at 255,5 $/t

 

In Ukraine, purchasing prices for wheat had reached in the port 233-240 $/t or 8000-8100 UAH/t and stopped the growth because most of the traders acquired the necessary party and switched to the reception of corn. To plan the purchase of new batches of wheat is impossible, because manufacturers refuse to sell it even at such high prices.

 

Recent rainfall has intensified the North, and as of 19 October in Ukraine winter wheat planted 4.6 million hectares or 76% of the planned areas compared to 5.5 million hectares or 88% on this date in 2019, Warm and dry weather next week will speed up sowing, while farmers plan to increase acreage of winter wheat and barley.

 

According to the Agency Conab, the wheat harvest in Brazil, which will soon begin a collection, will reach 5.2 million tons, which is 35% higher than the figure recorded 2019/20 MG due to the expansion of acreage by 24.2% and expected to increase yield by 8.8%. This will reduce the imports from Argentina, which is likely to reduce production.

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