Algerian tender supported the prices of European wheat
While the U.S. markets are not working on the occasion of the Independence Day celebration on the European wheat market continued to increase prices.
- Quotes milling wheat in Paris rose yesterday by 1 €/t and traded at 183.50 €/t or 213,96 $/t
Traders continue to monitor the situation of yield and quality of new crop wheat in France and Germany. Projected for the next few days of precipitation delayed harvest in France and dry weather continues to reduce the likelihood of a good harvest in Poland and the Baltic States.
Supported prices for French wheat information about purchase the state Agency Algeria's OAIC, another on the tender of 660 thousand tons of wheat of French origin for the price 234-237 $/T CFR for delivery in September. The purchase price was higher than the may tender. Algeria increased its production of its own wheat in this season, but the volume of imports will remain the same as last year at around 8 million tonnes.
In Ukraine, increasing the rate of harvest of wheat, and on the 4th of July with 883,3 thousand hectares has already collected more than 2.58 million tonnes of winter wheat with a yield of 2.92 t/ha. However, predictions of heavy rains from July 7 to 14 can significantly interfere with the collection and affect the yield and quality of wheat in the new season. Traders gradually increase the price of wheat and barley given the slow pace of sales from producers and concerns about reductions in harvest due to rain.
Today for wheat suggest in Porto:
protein 11,5% - 175-177 $/t or 5400-5500 UAH/t,
feed, 170-171 $/t or 5250-5350 UAH/t
- protein 12,5% - 178-180 $/t or 5550-5600 UAH/t,