Active collection lowers the price of wheat

2020-06-18 12:05:21
Machine translation
Active collection lowers the price of wheat

Dry weather in the US helped strengthen collection of wheat, while Europe, Ukraine and Russia are just starting to harvest what is pressuring the wheat market.

 

Yesterday, the July wheat futures in Chicago fell to 8-month low, under pressure from the news about the situation in the countries of the Northern hemisphere.

 

In Russia, an independent and official experts have begun to increase crop forecasts, and MSG stated that export quotas will not be, at least in the first half of the season.

 

the July wheat futures in the U.S. fell:

the

2.11 $/t to 158,91 $/t for solid winter HRW wheat in Kansas city.

  • by 2.66 $/t to 179,58 $/t for SRW soft winter-wheat in Chicago

Increased by 1.93 $/t to 191,16 $/t hard spring HRS wheat in Minneapolis.

 

In the Indian state company acquired in 2020/21 MG from local farmers, a record 38.2 million tons of wheat new crop, though the season started only on 1 April. The previous record government procurement of wheat was set in 2012/13, when it was purchased 38,18 mln tonnes of wheat, whereas in 2019/20 Mr purchases made 34,13 million tons in Total in 2020/21 MG the government of India plans to purchase in the state reserve 40.7 million tons.

 

Egyptian GASC today will hold the 3rd in the new season tender for purchase a minimum of 55-60 thousand tons of soft milling wheat with delivery 25 July – 05 August.

 

in the Near future I plan to hold tenders for the purchase of wheat Tunisia, Jordan, Ethiopia, that supports the price of European wheat, which is usually supplied to these countries.

 

Exchange in Paris began trading yesterday, falling behind Chicago and on the background of improving weather in the EU, but completed them in the "green zone" thanks to the depreciation of the Euro to 2-week low of 1,125 dollars /Euro.

 

German cooperative farmers DRV estimated the wheat production in 2020/21 MG at 22.2 million tonnes, which is 4% lower than in the previous season.

 

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  • September futures for milling wheat on MATIF rose by 0.5 €/t to 180,25 €/t or 202,5 $/t

 

bid Prices of black sea wheat fell to 198-203 $/t FOB for grain protein 12.5% and up to 195-196 $/t FOB with a protein of 11.5% due to low demand. The producers are holding back sales in expectation of higher prices to the level of 200 $/t at the port, which sold wheat old crop. Buyers are in no hurry to buy grain from the new harvest, waiting for lower prices.

 

MSG Yesterday Russia increased the forecast of wheat production in 2020/21 MG to 75 million tonnes, which is 500 thousand tons will exceed last year's figure.

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