Exchange wheat prices decline while Egypt buys an expensive wheat

2020-04-15 12:07:52
Exchange wheat prices decline while Egypt buys an expensive wheat

Yesterday, the Egyptian GASC had an unusual, for this period of the early purchases of grain within the country, the tender for purchase of wheat, although April 1, canceled it in anticipation of lower prices.

 

Earlier GASC announced a possible change in the conditions of supply in the conduct of international tenders and cancellation of deferred 180 days of payment for wheat. Yesterday, however, the tender was held on the old terms, with the Declaration of prices on FOB, the freight costs and prices on basis of C&F, and no changes in conditions, or specifications of a charge.

 

the tender was procured wheat at the average price of 9 $/t higher than at the auction in February, namely:

the

60 thousand tons of Russian wheat for delivery 26 may -5 June at the company's Grain Export at a price of 243 $/t FOB or 252,5 $/t C&F.

  • 60 thousand tons of Russian wheat for delivery on may 15-25 in the company AST Agro at a price 239,95 $/t FOB or against 249 and 45 $/t C&F

 

French wheat in the tender offer 247,7-249,75 $/MT FOB, and us – 245 $/MT FOB.

 

Through high prices for wheat importers to tolerate or to cancel the tenders in anticipation of declines under pressure from the new harvest and the fall of the neighboring markets.

 

Ethiopia has postponed the tender for the procurement of 200 thousand MT of wheat for April 30, while last week suffered the previous tender for the purchase of 400 thousand MT of wheat for April 23.

 

the Market for French wheat after the Easter holidays began with the fall behind Chicago. Pessimism trading added the results of the Egyptian tender where French wheat could not compete with the Russian. Besides, traders have regarded a small amount purchased on the tender wheat, as the bearish signal the export market.

 

the

  • the May futures for milling wheat on MATIF fell by €1/t to 197 €/t or 216,41 $/t

 

Chicago yesterday traded under pressure increase forecasts world wheat production in the new season, which surpassed possible frost damage to winter wheat in some regions of the United States.

 

Prices of U.S. wheat in yesterday's tender in Egypt corresponded to the level of Russian and French wheat, but the high cost of freight has not left chances to win.

 

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

the

3.77 $/t to 177,74 $/t for solid winter HRW wheat in Kansas city

to 2.39 $/t to 191,43 $/t on a firm spring HRS wheat in Minneapolis.

  • at 2.30 $/t to 201,63 $/t for SRW soft winter-wheat in Chicago

 

bid Prices of Russian wheat protein 12,5% for the week increased by 7.8 $/t to 235 $/t FOB, while the bid price remain at 225-230 $/t FOB.

 

Price supports quotas for export of Russian grain. As of 15 April in the framework of the quota was exported 2 million tonnes or 29.8 percent of the total quota.

 

bid Prices of Ukrainian wheat with protein 11.5% of also grew up for 5-6 $/t to 225 $/t FOB, however, traders are reluctant to contract volumes, fearing a possible stop of export.

 

After the decision of Romania to ban grain exports, domestic prices fell by 20 €/tonne, so farmers refuse to sell grain. In EU prices for German wheat with a protein of 12.5% increased to 229-230 $/t FOB – Germany, in French with protein 11.5% – up to 225 $/t FOB Rouen.

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