Importers are trying to reduce the price of wheat

After the Algeria and Egypt canceled the tender, the Ethiopian government yesterday postponed the date of the international tender for purchase of 400 thousand tons of milling wheat from 7 presumably on April 23, hoping for lower prices after release of USDA report. Traders believe that it will be reduced level of global consumption, forecasts of exports for individual countries and slightly increased the estimates of imports for countries in the Middle East and North Africa, who in recent weeks has announced tenders, trying to meet demand until the end of the season.

a Separate tender for purchasing 200 thousand tons of milling wheat in Ethiopia will hold the 15th of April. And Jordan on Monday to hold a tender for purchase of 120 thousand tons of wheat with protein 11%, and delivery in September-October.

the Threat of frost on the American Plains, which possibly will not be compensated for the improvement of winter wheat and a considerable amount of soil moisture. Therefore, quotes have lost a significant part of the growth Monday.

the May wheat futures in the U.S. fell:

the

0.92 $/t to 173,89 $/t for solid winter HRW wheat in Kansas city

0.83 $/t to 192,72 $/t on a firm spring HRS wheat in Minneapolis.

• to 2.39 $/t to 201,81 $/t for SRW soft winter-wheat in Chicago

the Demand for European wheat support active procurement of wheat in North Africa, who are trying to increase the reserves of the epidemic coronavirus, and threats for new crops due to moisture deficit in Germany, Romania, Poland, Hungary, the Czech Republic and Slovakia, although drought is not critical, and time to improve the condition of the plants is sufficient.

France yesterday has lowered the forecast of sowing wheat by almost 2% to the lowest since 2003 level, which is 8% below the average 5-year figure due to prolonged rainfall during the autumn planting.