To boost export of wheat did not deter the exchange from the next collapse

After two days of speculative growth of wheat exchange on Monday resumed its fall. Prices could not hold a report of the USDA data on the growth of wheat exports from the US and the EU against the background of a slowdown in exports from Ukraine and Russia. After the publication of the forecasts of a good harvest, traders started selling the wheat.

For the week, the EU exported only 159 thousand tons of wheat, but export performance over the last 7 weeks has improved considerably. Since the beginning of the season, the EU exported 11,234 million tons of soft wheat and, as of February 24 reduced the backlog from last year's rate to 17% against 19% in the previous week.

According to FranceAgrimer, in France, 85% of crops are in good or excellent condition as of last week.

as a Result of active sales of wheat futures on Euronext fell:

may – 3,75 €/t to 190,75 €/t or 216,69 $/t,

September – 2.5 €/ton to 177 €/t or 201,07 $/t

• March – 2.25 €/t to 193,75 €/t or 220,1 $/t,

For the week, the US has increased exports of wheat by 90.9% to 693,964 thousand tons, which is twice higher than the corresponding period last year. However, active traders reduced long positions in wheat led to the collapse of quotations.

For the week wheat SRW in Chicago lost 3.47 percent rates, HRW in Kansas city and 3.78%,  and HRS in Minneapolis to 1.09%.

May futures in the U.S. dropped:

by 5.79 $/t to 165,43 $/t for solid winter HRW wheat in Kansas city

3.22 $/t to 203,19 $/t on a firm spring HRS wheat in Minneapolis.

• by 6.98 $/t to 173,70 $/t for SRW soft winter-wheat in Chicago

Ukraine per week reduced the export of wheat to 201 thousand tons. Under the pressure of falling world prices and the strengthening of the hryvnia export prices continue to decline. The sellers are in no hurry to lower prices, but buyers actively reduce the price of demand because they cannot see prospects of growth of quotations in the world market.

there is a significant difference in the price of wheat old crop, which is offered for 225 $/MT FOB for March delivery, and new crop, for which in July offer of $180/MT FOB.