Good exports and weather conditions will support prices for wheat

Heat wave in Europe and Russia contributes to the development of crops of spring wheat on the background of increased exports became a new factor supporting stock prices, in particular in the black sea grain.

Russia for a week has increased exports of wheat by 30.55% to 961 thousand tonnes, due to lower forecast production to keep prices from falling. According to IKAR, the price of Russian wheat with protein 12,5% remain at level of last week 193 $/t FOB, according to the Refinitiv they grew by $1/t to 193.5 $/t FOB, and according to Sovekon – $2/t to 197 $/t FOB.

Ukraine per week exported 392 tonnes of wheat, which corresponds to the level of the previous week. The purchase prices for the week decreased to 1-2 $/t and are in Porto:

with protein 11,5% - 174-175 $/t,

forage – 171-172 $/t

• wheat protein 12,5% - 175-176 $/t,

US Farmers due to the dry and warm weather accelerated the harvest of wheat. According to NASS USFA, as of July 29, winter wheat collected on 75% of squares, compared with 86% in average. Due to the shortage of precipitation the quantity of spring wheat crops are in good or excellent condition for the week decreased from 76% to 73%, while a year ago the figure was 78%.

wheat Exports from the U.S. last week fell by 12.65% to 390,73 thousand tons, but total exports in the season is 3,799 million tonnes, which is 24.5% more than last year.

the September wheat futures in the U.S.:

1.65 $/t to 160,38 $/t for solid winter HRW wheat in Kansas city

by 2.94 $/t to 195,66 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.76 $/t to 185.00 $/t for SRW soft winter-wheat in Chicago

the slowdown in the production and export of wheat to Russia was supported yesterday the price of not only American, but European wheat.

• September futures for milling wheat on MATIF rose by 0.5 €/t to 175,75 €/t or 195,78 $/t

wheat Exports from the EU dropped from 139,5 to 25.86 million tonnes, and from the beginning of the season, he made 761,5 thousand tons, which is 22% inferior to the corresponding indicators 2018/19 Mr.

in the Near future will continue to pressure new crop prices, but after you enable buyers procurement prices for the new crop stabiliziruemost.