Reducing panic from coronavirus supported the stock price of the wheat

Reduction narrow panic caused by the epidemic coronavirus, support prices for wheat, although low demand continues to put pressure on physical markets.

heavy rains extinguished the fires in Australia that have lowered the price of wheat to the level 265-267 $/t FOB Australia. On Thursday, the Philippines acquired a 35 thousand tons Australian wheat at a price of 280 $/t CFR.

the Optimism in the market adds Turkey announced the tender for purchase of 250 thousand tons is soft and 50 thousand MT of hard milling wheat, which will be closed until February 18.

the French wheat Market finished Friday's session with a plus thanks to strong exports in December and January, despite the strikes in France. Quotes supported by the sale of 2-3 cargo of French wheat to China and the depreciation of the Euro against the dollar to 4-month low.

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• March futures for milling wheat on MATIF rose by 0.25 €/t till 193.25 €/t or 211,52 $/t

Traders ignored the statement of the Russian government on approval of the results of the test of Russian wheat by Algeria, which is a major buyer of French wheat. However, bid specifications content damaged by pests of grain, which is a prerequisite for tolerance of Russian wheat on the Algerian market, the government of Algeria has not changed.

France a week exported 192,7 thousand MT of wheat, of which of 124.5 thousand tons in Algeria.

the market for U.S. wheat on Friday was speculative growth. Investors covered short positions and conducted technical purchase.

March wheat futures in the U.S.:

the

1.75 $/t to 173,61 $/t for solid winter HRW wheat in Kansas city

1.19 $/ton to 196,85 $/t on a firm spring HRS wheat in Minneapolis.

• 0.92 $/t to 205,30 $/t for SRW soft winter-wheat in Chicago

the Reduction in prices of French and Romanian wheat to 220-224 $/t FOB puts pressure on prices of black sea wheat, which remain at 220-224 $/ton, despite the fall in demand.

Russia per week exported 545 thousand MT of wheat, of which 345 thousand tons to Egypt and 200 thousand tons in Turkey. Since the beginning of the season exported 24.1 million tonnes of wheat, which is 13% less than the corresponding indicator of the previous MG.

Ukraine per week reduced the export of wheat up to 115 thousand tons and since the beginning of the season sold 15.9 million tonnes, which is 37% higher than the previous season.