Exchange wheat prices on Monday continued to fall

2019-07-02 12:18:15
Exchange wheat prices on Monday continued to fall

Under the pressure of the new crop and falling corn market exchange wheat prices on Monday continued to fall. Traders await the outcome of the tenders and don't react to the news of hot weather.

 

Saudi Arabia at the tender 28 Jun acquired 730 thousand tons of milling wheat with protein 12.5% of the arbitrary origin with the exception of Russia and Canada at a price 233,88 $/t C&F for delivery in September-November, which corresponds to a procurement tender in April for shipments in July-September.

 

today, the Egyptian GASC tenders for the purchase of at least 55-60 thousand tons of soft milling wheat supply 2-12 August. The last time at the beginning of the season GASC tenders conducted in 2015/16. This attests to his intention to increase the purchase of wheat, when the prices are at the lowest level.

 

the French wheat cheaper 5 day in a row after the U.S. corn and wheat, and yesterday I updated two-week low. The wheat harvest that started in South-West France, indicating the high yield and low protein content, but it is too early to draw conclusions. The heat in the country starts to wane, although precipitation in the near future, not predict.

 

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  • September futures for milling wheat on MATIF fell by 2 €/t to 178,25 €/t or 201,12 $/t

 

Warm and dry weather in the Southern Plains of the United States has increased the speed of cleaning. According to the NASS USDA on 30 Jun winter wheat collected on 30% of areas, compared with 48% on average for 5 years. The number of crops of winter wheat in good or excellent condition for the week increased by 2% to 63%, spring remained at the same level.

 

Prices supported the increase in wheat exports from the U.S. for the week 40% to 609 thousand tonnes, which is 87% higher than the corresponding figure last year.

 

the July wheat futures in the U.S. fell:

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by 6.15 $/t to 159,74 $/t for solid winter HRW wheat in Kansas city

by 4.04 $/t to 199,61 $/t on a firm spring HRS wheat in Minneapolis.

  • by 5.14 $/t to 188,86 $/t for SRW soft winter-wheat in Chicago

 

In Ukraine the price of wheat at the port remain at the level of 165-175 $/t Manufacturers are in no hurry to sell wheat at a price below $30/ton, than last season, the greater the yield in the southern regions is quite low. An increase in supply will further put pressure on prices.

 

In southern Russia two weeks will be dominated by dry and hot weather, which significantly reduces the yield of wheat and spring crops.