Exchange wheat prices fall, due to the slowdown of exports
on Friday, the world price of wheat on the stock markets declined amid profit taking by traders and the low level of export sales. Prices on the physical markets remained stable since received support from high purchase prices for the tender in Saudi Arabia.
State Agency for the purchase of food SAUGUS Arabia (SAGO) acquired at the tender 715 thousand tons were presumably European wheat protein 12.5%, and delivery in April at an average price of 247,46 $/t CIF, which is much higher than the purchase price of the last tender in October.
the strengthening of the Euro also puts pressure on prices.
- March futures for milling wheat on MATIF fell by €1/t to 195 €/t or 210,95 $/t
Export sales of wheat from the U.S. last week fell below expert expectations, from 46% to 346,3 thousand tons, whereas export through aktivnim purchases from Indonesia, Thailand and Mexico increased by 18% to 595,3 thousand tonnes, which is 44% higher than the average 4-week average. Since the beginning of the season, the United States exported 17.2 million tons of wheat, which is 14% higher than last year on the same date.
March wheat futures in the U.S. fell:
at 3.94 $/t to 170,12 $/t for solid winter HRW wheat in Kansas city
2.74 $/t to 191,80 $/t on a firm spring HRS wheat in Minneapolis.
- by 6.02 $/t to 199,74 $/t for SRW soft winter-wheat in Chicago
the Slowdown of wheat exports from Ukraine and Russia testifies to the inflated prices of black sea wheat compared to amerikanskoy and European.
Ukraine per week exported only 94 thousand tons of wheat, and from the beginning of the season – 16.3 million tonnes, which is 32% higher than the corresponding period of the previous MG.
Russia per week exported 323 thousand MT of wheat, and from the beginning of the season – 24.6 million tons, which is 14% less than the same period last MG.
Canada per week exported 369,3 thousand tons of wheat, and from the beginning of the season and 11.5 million tonnes, which is 4% lower than in last year on this date.