Active planting of wheat and precipitation in the United States and the EU increase pressure on prices

2020-09-29 12:08:00
Machine translation
Active planting of wheat and precipitation in the United States and the EU increase pressure on prices

Yesterday, stock prices for wheat rose slightly, but in the physical markets, they continue to descend under the pressure of anxiety regarding the fate of the new crop and reduced demand from importers who believe prices overheated by the significant number of global offerings of wheat.

 

holiday in the US, Ukraine and Russia the rain passed which improved the condition of winter wheat crops. Forecast powerful rains in Europe, Ukraine and Russia in next 7 days will lessen the impact of weather factors on prices.

 

Sowing of winter wheat is more active than last year. In USA it is planted on 35% of the area compared to 20% last year and 33% in average of 5 years, in Russia, 62%, and in Ukraine, the North only began due to the recent precipitation. In Europe, heavy rains will dramatically increase acreage of soft wheat.

 

Ministry of food security Pakistan urged the Trading Corporation of TSR to cancel the current tender for import of wheat from-for too high prices.

 

the Agency left Coceral forecast the production of soft wheat in the EU (including the UK) in 2020/21 MG at the level of 129.2 million tonnes, whereas the estimate of barley crop decreased from 62.5 to 61.3 million tons.

 

In Russia as of 28 September, from 27.9 million hectares, or 94.7% of acreage collected 85.2 million tonnes of wheat with a yield of 3.06 t/ha.

 

the Experts at Agriculture and Agri-Food Canada in the September report decreased compared with the previous forecast estimate of wheat production in Canada in 2020/21 MG 0.8 million tonnes to 34.1 million tonnes, which will exceed last year's 32.3 million tonnes forecast of wheat exports increased by 0.2 million tonnes to 24.5 million tonnes due to the decrease of domestic consumption.

 

Due to the dry weather in Canada, spring wheat, collected 70% of the area, and the quality and yield exceed last year and average 5-year performance.

 

Following the decline in prices for Russian wheat to 228-233 $/MT FOB Ukrainian also fell by 100-150 UAH/t to 217-219 $/t or 7300-7400 UAH/t at the port.

 

the

  • December futures milling wheat on MATIF rose by 1 €/t till 193.25 €/t or 225,5 $/t the decline of the Euro and hopes for a revitalization of exports due to high prices for black sea grain.

 

For the week, the EU exported only 4 thousand MT of wheat, although the data for the previous week sharply increased to 221 thousand tons due to increased exports from the Baltic States at 178 thousand tonnes and Romania to 39 thousand tons. Just season as of 27 September, the EU exported 4.35 million tonnes of wheat, which is 39% less than the corresponding indicator 2019

 

On the stock exchange in Chicago after Friday's updates on the futures of soft wheat and 1.5-week low, yesterday was a speculative price adjustment on the background of increasing weekly exports by 12% to 563,4 thousand tons, of which 186,7 thousand tons were purchased in China. Since the beginning of the season wheat exports from the US reached 9.2 million tonnes, which is 8% higher than the pace last year.

 

December futures U.S.:

the

by 2.76 $/t to 177,38 $/t for solid winter HRW wheat in Kansas city.

  • to 2.20 $/t to 202,18 $/t for SRW soft winter-wheat in Chicago

Fell 0.09 $/t to 194,55 $/t hard spring HRS wheat in Minneapolis.

Visitors’ comments (0):