The Egyptian tender cools the wheat market
2017-07-19 12:14:01
Machine translation
Price of wheat in the U.S. and in Europe continue to slowly decline. With the sole exception of spring durum wheat, which again rose by $4,87 to 286,78 $/ton. Despite the rains that fell in the area of cultivation of spring wheat and would have to keep the prices down. An additional factor of price growth was the concern of traders as the canadian spring wheat, where the forecast hot weather and little precipitation for the next two weeks.
However, winter wheat began to feel the pressure of the proposals from increasing the supply of new crop and large world stocks.
September U.S. winter wheat SRW in Chicago by $0,83 to 185,09 $/ton.
futures French wheat fell by €0.25 to 172,25 €/t (199,42 $/ton). The growth rate of the Euro against the dollar reduces the competitiveness of European wheat.
Yesterday Egypt at the regular tender, bought 60tys tons of French, and 120тис tons of Russian and Romanian wheat at the price 203,45-204,69 $/t FOB, which is almost unchanged compared with the previous tender. This purchase signal of the wheat market, there is no shortage of proposals for the sale of wheat at prices 200-205 $/ton on FOB terms.
While Ukrainian wheat again did not win the tender, but the wheat continues to rise in price and demand reaches almost 195-200$/t FOB for wheat with protein of 12.5% .
Traders offer the following prices for wheat with delivery to the port:
• 2 CL of 12.5% 169-174 $/t or 5100-5200 UAH/t,
• 3 KL 11.5% of 168-170 $/t or 4950-5100 UAH/t,
• forage 154-160 $/t or 4650-4850 UAH/t
Visitors’ comments (0):
Add a comment to news item: The Egyptian tender cools the wheat market
Add a comment to news item:
The Egyptian tender cools the wheat market