Active export supported the price of wheat in the United States, but the black sea grain prices go down due to low demand

2021-04-06 12:02:02
Machine translation
Active export supported the price of wheat in the United States, but the black sea grain prices go down due to low demand

the price of American wheat was supported by data on the activation of the export and worse than last year, the state of winter wheat, while Russian wheat prices go down due to low demand.

 

According to the USDA, the volume prospective for the export of wheat exceeded the expert expectations and rose for the week by 94% to 594 thousand tons due to increased exports to China up to 200 thousand tons in Total, the season inspected for export 20.9 million tonnes of wheat, which is slightly higher than the corresponding period last year.

 

national rating of winter wheat in the United States by index Brugler500 estimated at 338 compared to the 360 on the same date last year. The amount of the crop in good or excellent condition is 53%, while last year this figure was 62%.

 

the May futures rose:

  • by 2.57 $/t to 227,07 $/t for SRW soft winter-wheat in Chicago,
  • at 2.93 $/t to 223.00 $/t on a firm spring HRS wheat in Minneapolis.

Fell 0.73 $/t to 203,20 $/t for solid winter HRW wheat in Kansas city.

 

Grain Agency of Saudi Arabia (SAGO) acquired at the tender April 2, 295 kt European milling wheat with protein 12.5% delivery in may – June at an average price of 271,05 $/t C&F, whereas at the end of February SAGO bought flour wheat 330,04 $/t C&F, right, outside of the tender.

 

In Russia, the crops in almost 80% of sown winter crops 19.4 million hectares are in good or satisfactory condition, against the relevant previous year. However, heavy rainfall in March and projected favorable weather in April will improve the condition of crops, especially in southern regions.

 

Export prices for Russian wheat due to low export demand falls fifth consecutive week. For the week, the price of wheat with a protein of 12.5% has fallen, according to the Agency ICARUS, 12 $/t to 245 $/t FOB, according to SovEcon – 5 $/t to 248 $/t FOB, and feed barley – for $5/t to 235 $/t FOB.

 

as a Result of lower demand and export prices, the experts SovEcon has lowered the forecast of export of Russian wheat in the current season of 0.2 million tons to 38.9 million tons.

Visitors’ comments (0):