Egypt announced a tender for the background of the fall in wheat prices

2019-02-08 12:05:03
Machine translation
Egypt announced a tender for the background of the fall in wheat prices

Wheat quotations, which have been declining since the beginning of the week, Thursday finally collapsed after prices for soybeans and corn in the United States.

 

the Reason for the decline was the information that the meeting Trump and the President of China, XI will be held not before 1 March, respectively trade agreement before that date will not be signed, so they can come into effect new tariffs on Chinese goods.

 

trump's Adviser on economic Affairs said that the parties are still many uncertain issues, so the time of the signing of the agreement and the likelihood of increased export of grain from the USA and China remains in question.

 

March wheat futures declined:

by 4.78 $/t to 182,34 $/t for solid winter HRW wheat in Kansas city

by 3.21 $/t to 207,41 $/t on a firm spring HRS wheat in Minneapolis.

  • by 4.68 $/t to 188,58 $/t for SRW soft winter-wheat in Chicago

 

In Ukraine, UAH purchase prices fall due to the strengthening of the national currency from 28 to 27 UAH/$.

 

At today's tender the Egyptian GASC plans to purchase 55-60 thousand tons of soft milling wheat with delivery from 21 to 31 March 2019

 

Most traders stop trading in anticipation of the outcome of the tender and a new report USDA that will determine the future dynamics of prices for wheat.