Tender Turkey supported the price of wheat
Turkish news Agency TMO at the tender 22 Oct purchased 190 thousand tonnes of soft milling wheat of European origin, with delivery 29 Nov – 17 Dec at an average price of 231 $/t, which is 26.7 $/t higher than the purchase price of the previous trading session on September 18.
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- According to the results of the tender wheat futures on the MATIF rose by 0.25 €/t to 181 €/t or 201,34 $/t
the depreciation of the Euro against the dollar increases the competitiveness of European wheat before the black sea.
on Tuesday, the French wheat market turned upwards. Traders are confident in the victory of the Algerian tender, because after the increase of rates for sea freight to Argentine wheat lost price advantage.
However, the rise in prices has limited the fall in Chicago and the unsatisfactory pace of exports of French wheat. Exports of soft wheat from the EU to third countries, France still ranks second after Romania.
Government of Tunisia, ODC, plans to buy 50 thousand tons of wheat with protein 11.5% and delivery in late November – early December, and Ethiopia tender for purchase of 400 thousand tons of wheat was moved from Wednesday to November 5.
Investors in Chicago recorded the net profit and carried out by speculative sales after the prices updated 3-month high late last week.
the December wheat futures in the U.S. fell:
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1.56 $/t to 154,78 $/t for solid winter HRW wheat in Kansas city.
- 2.02 $/t to 190,33 $/t for SRW soft winter-wheat in Chicago
Rose 0.46 $/t to 198,04 $/t hard spring HRS wheat in Minneapolis.
Ukraine for the week increased wheat exports by 20% from 466 to 557 thousand tons.
As of October 21, in Ukraine winter wheat planted 5.5 million hectares or 88% of the target due to dry weather. Experts expect a reduction in the acreage of it, as the optimum sowing time has passed, and the lack of rain and lower temperatures and frosts in the next two weeks will not allow to obtain good germination. Last year late winter wheat seedlings has developed well thanks to the warm winter and long wet spring, which contributed to the development of crops.
