Cheap black sea wheat puts pressure on world prices

2017-08-30 12:14:32
Machine translation
Cheap black sea wheat puts pressure on world prices

Yesterday's Egyptian tender for purchase of wheat received 15 applications, most of which (10 applications) received by exporters of Russian wheat. Two applications concerned the supply of Romanian and French beans, and one Ukrainian.


As a result, GASC acquired 235 thousand tons of Russian and 60 thousand tons of Ukrainian wheat at a price of $ 200.40-202.26 per tonne CIF, which is lower than $ 6-7 per ton, than in the previous tender. At the same time, French wheat appeared on the basis of FOB at 9.64 $ / t more expensive than Russian


strengthening of the Euro further weakens the competitiveness of the French seed.


the physical French market farmers dissatisfied with the price weakness, and therefore refuse further sales. Estimated agrogrupe AGPB, current prices were below the cost of wheat.


  • September futures milling wheat on MATIF fell by 0.5 €/t 152 €/t (182,68 $/t).


as the active promotion of the harvesting campaign in Minneapolis continue to decline quotes hard spring wheat. In Chicago after the significant weakening of prices on Monday, Tuesday began a speculative swings. Investors close short positions and carry out speculative purchase.


the September wheat prices in the U.S. rose

  • soft wheat SRW in Chicago by 1.01 $/t to 147,98 $/t,
  • for hard wheat HRW in Kansas city by 0.18 $/t to 145,96 $/t

Fell by 2.66 $/t to 234,24 $/t hard spring wheat HRS in Minneapolis.


In Ukraine, wheat prices continue to decline, causing farmers halted grain sales, especially food. Today in the port for wheat offer:

  • feed - 145-148 $/t or 4250-4550 UAH/t,
  • 3 gr protein 11,5% - 155 to 158 $/t or 4550-4850 UAH/t
  • 2 gr protein 12,5% - 165-170 $/t or 4900-5250 UAH/t

Visitors’ comments (0):