The stock price of wheat grow with the support of the physical market

the growth of prices for Russian wheat to a level where it became uncompetitive in the tender in Egypt, supported the stock prices after a significant drop on Wednesday.

European and American exporters is expected to reduce the supply of wheat from Russia that will allow to increase export of grain from the US and the EU in the second half of the season.

In Argentina, the wheat is gathered 68% of the area. According to experts of the stock exchange of Buenos Aires, the harvest will amount to 19 million tonnes, and recent precipitation will not significantly degrade the quality of the grain.

Today there will be a meeting of the Minister of agriculture of the Russian Federation from exporters, which will be discussed possible limitations of wheat exports to reduce domestic prices.

• the March futures for milling wheat in Paris rose by 0.75 €/t to 206 €/t or 235,90 $/t

After previous 2-day fall on Thursday quotes of the March wheat futures in Chicago rose on the back of speculative purchases and investors closing short positions after a tender in Egypt, which gave hope for the strengthening of exports.

However, wheat exports from the U.S. for the week decreased by half and amounted to only 313,58 thousand tons, which is 60% below the corresponding period last year.

the March wheat rose quotes:

0.37 $/t to 187,21 $/t for solid winter HRW wheat in Kansas city.

• 0.37 $/t to 192,35 $/t for SRW soft winter-wheat in Chicago

At the same time has fallen in price on 0,18 $/t to 208,70 $/t hard spring HRS wheat in Minneapolis.