Stock prices for wheat resumed growth
After a significant jump in prices last week, traders began to fix profit, so in the last two sessions, the quotes slightly decreased. However, since Monday the world prices for wheat resumed growth.
France is completing the harvest, traders are watching data from Germany, which predict a significant reduction of wheat production. Moreover, the expected deterioration in the quality wheat in Ukraine and Russia.
- September futures milling wheat in Paris rose by 4.25 €/t to 202,5 €/t or 237,09 $/etc
the following European traders started to buy wheat in anticipation of further price increases, due to problems with the harvest in the EU and Russia, although news of the American market does not give grounds for growth.
wheat Exports from the U.S. for the week decreased by 11.7% to 379,1 thousand tons, which is 40% lower than in the corresponding period in 2017.
Threshed 85% of the area under winter wheat and 4% of the area under spring that corresponds to the average value. The condition of spring wheat during the week has declined by 1% to 78%. The wheat harvest will exceed last year's, but will be below average 5-year level.
the September wheat futures in the U.S.:
5,60 $/t to 201,26 $/t for solid winter HRW wheat in Kansas city
3.12 $/t to 220,83 $/t on a firm spring HRS wheat in Minneapolis.
- 5.88 $/t until 200,8 $/t for SRW soft winter-wheat in Chicago
In Ukraine, as of July 30, with 76% of the area harvested 17 million tons of winter wheat with a yield of 3.48 t/ha and 12% of the General area of 54.4 thousand tons of spring wheat on the yield of 2.39 t/ha, in Russia – 33,4% acreage harvested 34 mln tonnes of winter and spring wheat with a yield of 3.74 t/ha against 4.5 t/ha in 2017.
the price of wheat continues to grow and is now in ukrainian ports offer:
protein 11.5% of 193-195 $/t or 6000-6100 UAH/t,
forage 175-180 $/t or 5500-5600 UAH/t
- protein 12,5% 195-200 $/t or 6150-6300 UAH/t,
Spread in the prices of food and fodder wheat increased to 15-17 $/t