The harvest in Australia is placing increasing pressure on world wheat prices

the Data for the collection of wheat in Australia confirm a good harvest, so farmers have stepped up sales of wheat, trying to oust the black sea wheat on the markets of Asia. This increases pressure on the world's stock exchanges that await updated balance USDA.

According to the Agency Profarmer Australia, Australia to 2020/21 MG will increase compared to the previous season, the production of wheat by 84% to 27.9 million tonnes, and exports by 87% to 17 million tons Experts believe that Australian wheat could win back the position on the Asian markets lost during the two previous unfavorable for the agricultural sector seasons. Russian wheat on the background of reduced production in the EU is exported mainly to Africa and the Middle East. Another competitor in Argentina is likely to reduce compared to the 2019/20 marketing year, wheat exports by 15%, moreover the quality also is lower.

on Friday, Australian blazersite wheat was trading at a price of 266 $/t FOB, which is significantly lower than the price of the black sea and Argentine wheat for delivery into the Asian market.

Trading Corporation of Pakistan (TCP) has purchased the tender 320 thousand tons of milling wheat French or Australian origin with delivery to 31.01.2021 on price to 286.2 $/t C&F, which is 2.2 $/t higher than the price of the previous auction, which was purchased Russian wheat. This confirms the high competitiveness of Australian grain.

wheat On US exchanges prices fell under the pressure of the fall of neighbouring markets of soybeans and corn, low export sales and increased competition from Australian wheat.

December futures in the U.S. fell:

the

2.85 $/t to 204,02 $/t for solid winter HRW wheat in Kansas city

1.38 $/t to 204,75 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.66 $/t to 221,19 $/t for SRW soft winter-wheat in Chicago

the Market for French wheat after a three-day rally has consolidated on Friday in anticipation of the new balance USDA and the results of procurement tender in Saudi Arabia.

the

• December futures for milling wheat on MATIF fell by 0.25 €/t to 208,75 €/t or 247,79 $/t

the Strengthening of the Euro against 1,1894 $/€ decreases the competitiveness of European wheat, but the completion of the U.S. elections and the strengthening of quarantine in the EU will lead to the recovery of the dollar and the decline in European grain.

as a Result of the fall in meat prices caused by the outbreak of ASF in Germany and the banning of export prices for coarse grains are also omitted.