Stock prices for wheat continue to rise
According to Reuters, experts are once again updated its estimates of wheat production in the EU and reduced the crop forecast compared to the previous year by 4% to 136 million tons.
the German farmers ' Association consider that in comparison with the 2017 crop of wheat will decrease by 15% to 20.45 million tonnes, the Ministry of statistics of the Czech Republic predicts a decrease in yield by 8% to 6.2 million tons.
- September futures milling wheat on MATIF rose by 3.25 €/t to 186,75 €/t or 218,19 $/t
After the weekend, U.S. markets were supported by the European trend. The drop in prices due to increase in the forecast of the wheat crop in the United States, stopped thanks to a new global balance for wheat.
FAO Experts reduced the estimate of world wheat production with 754,1 million tons in June to 736,1 million tons because of reduced harvest in the EU, Ukraine and Russia.
the September wheat futures in the U.S.:
by 7.07 $/t to 184,91 $/t for solid winter HRW wheat in Kansas city
4,50 $/t to 201,17 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.33 $/t to 185,74 $/t for SRW soft winter-wheat in Chicago
the offer Prices for Russian wheat with a 12.5 protein% increased with up to 195-198 200-202 $/t FOB. Demand still remains low, while the black sea wheat is now the cheapest in the world market.