Stock prices for wheat grew, but the physical market continues to decline
wheat Futures on exchanges in the US and the EU yesterday recovered slightly as traders were taking profits on the oversold market, providing technical procurement. The number of winter wheat crops in Texas that are in good or excellent condition increased zaterdag from 20% to 30%.
March wheat futures in the U.S. fell:
0.6% to 172,70 $/t for solid winter HRW wheat in Kansas city
0.3% to 196,40 $/t on a firm spring HRS wheat in Minneapolis.
- 0.7% to 205,95 $/t for SRW soft winter-wheat in Chicago
On the physical market of the EU and the Russian prices for wheat with protein of 12.5% remains unchanged, despite a slight increase in stock prices.
- March wheat futures on Euronext rose by 1% to 191.5 €/t or 210,5 $/t
the Russian wheat is offered at 225-226 $/t FOB Novorossiysk shipping in March, then as buyers reduced purchases in anticipation of lower prices. Bid prices for delivery in small ports declined by 6-7 $/t
According to traders,has sold two vessels wheat with protein 13.5% February delivery to ports of Turkey at the price of 222 - 223 $/MT CIF Marmara.
the Decrease in demand lowered procurement prices for wheat in Ukraine is 5-6 $/t to 205-208 $/t, and due to the strengthening of the hryvnia they decreased by 200 UAH/t to 5950-6150 UAH/t at the port.
heavy precipitation in the form of snow and rain in Ukraine and Russia will improve soil moisture and crop condition of winter wheat. Frosts have not yet predicted, so the price of wheat of the new harvest dropped to 190-195 $/t FOB.