The depreciation of the Euro increases the competitiveness of European wheat

2021-03-09 12:03:24
Machine translation
The depreciation of the Euro increases the competitiveness of European wheat

Yesterday, the wheat exchange, the U.S. has continued to fall under the pressure of heavy rainfall forecasts in the agricultural regions of the American Plains and the strengthening of the dollar against the Euro to 1,186 $/€, which is a maximum of 3.5 months.

 

wheat Exports from the U.S. last week rose by 41% to 482,1 kt, and just season amounted to 18.6 million tonnes, which is 3.5% less than last year's pace.

 

the Amount of winter wheat crop in good or excellent condition for the week decreased by 1% to 36% in Kansas and 27% in Texas. However, the heavy rains that have already passed and will continue in the future in the areas of sowing winter wheat, let hope for the improvement of crops due to sufficient amount of moisture.

 

Mais quotes in the U.S. fell:

  • by 2.39 $/t to 237,54 $/t for SRW soft winter-wheat in Chicago,
  • 1.65 $/t to 228,45 $/t for solid winter HRW wheat in Kansas city,
  • 0.55 $/t to 233,68 $/t on a firm spring HRS wheat in Minneapolis.

 

European wheat, in contrast to the us, started the week rapid growth.

 

Optimism added declared Algeria a long-awaited tender for purchase of at least 50 thousand tons of soft wheat arbitrary origin, which is a great chance to win is of French wheat, in contrast to the recent tender for purchase of hard wheat.

 

wheat Exports from the EU for the week rose to 318 tonnes, but only in the season amounted to 18 million tonnes, European traders hope for a decrease in the export of wheat from Russia after the increase in fees, and are awaiting the outcome of the tender in Pakistan, which will demonstrate the competitiveness of European wheat in comparison with the black sea.

 

  • the May futures for milling wheat on MATIF rose yesterday 2 €/t to 230,25 €/t or of 272.8 $/t

 

the rate Projected for the next few days the temperature decreases and precipitation in the form of snow and rain in the Ukraine and Russia will delay the sowing of early spring crops.

 

- na-Kubani, according to local authorities, too snowy winter sowing campaign, which usually starts in February, this year, for a month delayed. The promised rain will replenish soil moisture and improve the condition of winter crops in the spring.

 

On the stock exchange in Chicago futures black sea wheat of the new harvest remain at 242 $/t, and wheat old crop for delivery in March-April – make up 280-285 $/t FOB. The decline in European grain, due to the depreciation of the Euro against the dollar will lead to a further decline of prices for black sea wheat.

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