Or the wheat prices reached the bottom or still have to fall?
wheat Prices continue to decline in all markets, but the activity of buyers is not observed.
Traders waiting for the next punch the bottom price and the manufacturers continue to hold back sales through the continued decline in prices.
the Third trading day in a row, the French the September wheat contract puts antirecord. Wednesday to the already usual factor is the falling Chicago (Paris closed to speculative comeback CBOT) was added and the doubts about the immediate prospects of European exports because of competition from black sea grain. Although the pressure of the Russian competitor a little weak, but strengthened Ukrainian.
Traders with a sinking heart, waiting for the results of the tender in Tunisia, where equal chances was French and black sea wheat. The results of the tender became known after the end of trading. Tunisia bought wheat at a price of approximately 212$/t CFR for delivery in September, October, 3.7 per dollar cheaper than it was bought a month ago.
September quotes milling wheat on the Paris stock exchange MATIF fell by €0.50 to 165,00 €/ton (182,95 $/ton), and bid prices in the cash market of French wheat decreased within the week by $ 5 to 191$/t FOB.
According to preliminary estimates, 89% of the soft wheat crop in France, have a protein content of 11% and above, the share of wheat with protein 12% and above 20% against 47% last year, 97% of the soft wheat crop have test weights of 76 kg per hectoliter, which also satisfies the requirements of the milling industry.
100% of the tested samples of wheat have a number of drops 240 sec. and higher, above the minimum standard in the European Union 220 sec.
the Chicago wheat area almost the whole of Wednesday was trading in the red zone and only at the very end of the auction, he rebounded from a 3-month bottom due to speculative purchases.
Expert expectations for the weekly export sales of US wheat were in the range of 300-500 thousand tons.
September U.S. wheat on 21 August:
soft Wheat SRW in Chicago by $ 0.92 to 169,94 $ /ton
hard wheat HRW in Kansas city decreased by $0.18 to 141,92 $/ton
durum wheat HRS in Minneapolis has decreased by $0,64 to 184,54 $/ton
In Russia the wheat throughout the areas of 16.1 mln ha, or 57.5% of the cultivated area and produced 56.1 million tons of grain at yield of 3.48 t/ha (2018 – 3.39 MT/ha) , while according to the fgbi "Center for grain quality assessment" wheat protein 12,5% received about 30%, which is 10% more than last year, and with protein 11.5% of 48% on the previous year's level. Bid prices of Russian wheat protein 12.5% to remain unchanged at 191-194$/t FOB.