Importers continue to buy wheat on the world market

Active procurement of wheat importers maintain prices at a high level. However, if the March futures continue to go up, the price of delivery with a later date has turned down.

In the ports of Russia have a lot of ships, as traders rush to ship grain to administration fees. The rising cost of freight for shipments from the black sea region lowers the purchase price.

Grain Agency of Algeria (ONAB) has acquired 600 thousand tonnes of food wheat for Feb-March at a price of 313 $/t CFR, which corresponds to the price of the previous tender on 20 January, when it was acquired by 390 thousand tons of wheat.

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• the March futures for milling wheat on MATIF rose 1.25 €/t to 231 €/t or 279,33 $/t may only 0.25 €/t 225 €/t or 272 $/ton, while September fell by €1/t to 197,25 €/t or 238,5 $/t

the Government of Pakistan has allowed import of an additional 300 thousand tons of milling wheat to reduce domestic shortages and canceled the delivery of this amount from the payment of import duties.

the Ministry of industry and trade of Jordan at the tender 27 Jan bought 60 thousand tons of Ukrainian wheat with delivery in August at a price of RUB 273.3 $/t C&F, which kept prices from a sharp fall.

In Ukraine the price of wheat recovered in port before 270-275 $/t or 9100-9200 UAH/t, with the forward price for delivery at the port in July – August fell to $220/t In the South of Ukraine passed precipitation in the form of snow, and soon the snow will be held throughout the country that will have a positive impact on winter crops.

On the Southern plains of the United States during the week of severe frosts will not, however, will precipitation, will reduce concerns about the condition of crops of winter wheat. In the Western areas of the region rainfall is insufficient. According to the Agency the IHS Markit/Informa, the sowing area of wheat in the United States will increase in comparison with the previous year by 2% to 45.3 million acres.

futures on the winter SRW soft wheat in Chicago fell yesterday:

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may 1.44% to 238,17 $/t,

July – 1.09% 232,7 up to $/t

• the March - by 1.71% to 237,7 $/t,

the Experts at Agriculture and Agri-Food Canada in the January report increased compared with previous estimates, the forecast of wheat exports from Canada to 2020/21 MG by 1.4 million tonnes to 26.4 million tonnes, while in 2019/20 MG it amounted to 24.5 million tons.

After the long weekend on the world market will increase the supply of wheat from Australia, against the background of reduction of prices for Russian wheat and capacity-building proposals Argentina will increase competition in tenders in Algeria and Pakistan.