Exchange wheat prices soaring

the Results of the Egyptian tender and news from Australia and Argentina on Friday gave rise to active growth of stock prices in the US and the EU.

the Australian Department of agriculture and water resources have reduced in comparison with the September forecast production estimate of winter crops for 15 n, which will be twice less than the average 20-year average. Due to continuous drought, wheat production will decrease to 16.6 million tonnes, barley – up to 6.9 mln tonnes, rapeseed – 2.2 mln tonnes

Freeze in Argentina has damaged part of crops of wheat, for which the experts of the Grain exchange Buenos Aires, in the updated report have reduced compared to the previous forecast estimate of wheat production in the country in 2018/19 MG to 300 thousand tons to 19.4 million tons In good or excellent condition are only 34,6% of crops against 60,7% on this date last year.

• the December futures for milling wheat on the Paris stock exchange has grown on 3,25 €/t to 202,5 €/t or 231,21 $/t

Following the stock exchange in Paris December futures for soft wheat in Chicago rose 4% and played a two-day drop.

Push the prices has rendered news about part 2 of the batch of soft wheat at 60 THD. MT in the Egyptian tender and the fact that the American wheat had the lowest price on FOB basis, although the cost of freight, twice the rate for black sea grain. After Egypt for the first time since 17 may 2017 bought a consignment of wheat from the U.S., prices began to grow rapidly.

the December wheat futures on US exchanges rose:

by 5.05 $/t to 183.81 $/t for solid winter HRW wheat in Kansas city

by 3.03 $/t to 212,28 $/t on a firm spring HRS wheat in Minneapolis.

• by 6.61 $/t to 185,64 $/t for SRW soft winter-wheat in Chicago

the Increase by the Ministry of agriculture forecast of wheat exports from the country to 33-34 million tons not surprised the market since the October report USDA this figure was estimated at 35 million tons.