Rains in Australia and Canada, will improve the yield of wheat
Improved weather conditions for wheat and rapeseed in Canada and Australia became the main driving force for the world prices for wheat.
the Rain that fell quite uneven and will continue throughout the week, clearly not enough to improve the condition of crops. However, they at least give hope for replenishment of moisture and improve yields.
Global wheat prices remain under pressure of uncertainty about the harvest in Australia , for which a production forecast is reduced from 24 to 20 million tons and there are chances of further reduction.
In Chicago continued speculative reduction of prices for winter wheat on a background of good yields, but rates of spring wheat increased due to increase export demand.
September's U.S. winter wheat have decreased:
- soft wheat SRW in Chicago by 0.18 $/t to 169,29 $/t,
- for hard wheat HRW in Kansas city by 0.28 $/t to 170,67 $/t
Hard spring wheat HRS in Minneapolis has grown by 1.56 $/t to 265,38 $/t
Euro continued to strengthen yesterday as the rate was 1,189 €/$.
the signing of the law on new sanctions of the USA against Russia has little to weaken the EUR, as the new sanctions will affect European business. However, speculators continue to raise, trying to shake up the course to the level of 1.2 €/$.
a Strong Euro undermines the exports of French grains, so traders are forced to lower the prices in € to increase sales of European goods.
- September milling wheat quotations on the MATIF fell by 1.00 €/t to 165.00 €/t (195,80 $/t).
In Ukraine, the wheat market moves according to the global trends, so the price of high protein wheat is growing, and for feed and low protein is reduced.
the Purchase price of the wheat delivered to the port in Ukraine.