Egypt invites bids amid falling wheat prices

2018-03-29 12:04:34
Machine translation
Egypt invites bids amid falling wheat prices

After a slight fall in wheat prices on the stock exchanges and the physical market, the Egyptian Agency GASC decided to hold another tender for purchase of wheat, the results of which very closely by traders.

 

the wheat Market in the United States the third day in a row continues to fall. Precipitation in the regions of winter wheat production have improved the condition of crops, so the speculators have stepped up sales ahead of the release of the report USDA.

 

Details of today's report on weekly export stocks on March 1 and the forecast of the acreage in 2018 can significantly affect price trends.

 

the May futures for U.S. wheat decreased

at 1.10 $/t to 169,39 $/t for solid winter HRW wheat in Kansas city

1.38 $/t to 216,60 $/t on a firm spring HRS wheat in Minneapolis.

  • 1.29 $/t to 163,69 $/t for SRW soft winter-wheat in Chicago

 

Cool weather is delaying sowing of spring crops in the EU, but the gap is not as significant as in Ukraine and Russia, where air temperature again decreased and by the end of the week predicted snow and rains.

 

  • Due to the weakening of the Euro may futures milling wheat on MATIF fell by 0.5 €/t to 163 €/t (201,28 $/t).

 

In Ukraine the price of wheat at the port remain at the same level:

protein 11,5% 185-188 $/t or 5800-5900 UAH/t,

forage 180-184 $/t or 5700-5800 UAH/t

  • protein 12,5% 188-190 $/t or 5850-5950 UAH/t,