Because of the drought, the forecast of grain harvest in Spain reduced

2017-06-19 12:21:12
Machine translation
Because of the drought, the forecast of grain harvest in Spain reduced

the Association of agricultural cooperatives of Spain considers that this year the grain harvest will be the worst since 1990 and will be 15,233 million tonnes, which is 35% less than last year and 26% less than the average three-year indicator. This will lead to increased imports of grain.

 

the Lack of rain during the period of plant development and high temperature since mid-March has significantly deteriorated the yield of grain in all regions of the country.

 

In comparison with last year the production of wheat will fall from 7,234 to 3.692 m t, solid – from 1.18 to 1.12 million tons, barley – from 9,405 to 5.73 million tons, corn – from 3,598 to 3,223 million tonnes.

 

  • On the news on Friday the price of wheat on Euronext rose by € 3/t to € 173,5/t for September deliveries.

 

After European market prices for wheat in Chicago reached the annual maximum. The lack of rainfall increases of quotations of spring wheat, which, in turn, supports quotes winter wheat.

 

the July wheat futures in the U.S.

  • in Chicago by 4.23 $/t to 170,95 $/t for SRW soft winter-wheat,
  • in Kansas city at 3.03 $/ton to of 173.98 $/t for solid winter HRW-wheat,
  • in Minneapolis by 3.77 $/t to 236,17 $/t on a firm spring HRS wheat.