Frost in the US led to a speculative growth stock prices of wheat

2021-02-16 12:02:41
Machine translation
Frost in the US led to a speculative growth stock prices of wheat

to Extreme temperatures -25...-20 degrees that weekend covered the wheat growing areas in the Southern plains of the United States, led to a speculative leap of quotes, because they can damage crops, where the layer of snow does not exceed 1-3 cm

 

In the Eastern part were strong snowfalls, but in South Dakota, Nebraska, and Western Kansas snow little or no, which increases the threat to crops.

 

In Ukraine and Russia, a good snow covered crops a significant layer of snow, so cold -15...-18 degrees did not cause them any harm, and at the end of the week, the air warms up.

 

the Wheat exchange, the US began the week rapid growth in sanpokong about the possible destruction of part of winter wheat as a result of severe frosts. According to experts Commodity Weather Group, could kill 10% of crops are soft and 15% of hard winter wheat.

 

the March wheat futures in the U.S.:

  • by 5.14 $/t to 239,10 $/t for SRW soft winter-wheat in Chicago,
  • by 6.06 $/t to 232,67 $/t for solid winter HRW wheat in Kansas city,
  • by 3.94 $/t to 230,28 $/t on a firm spring HRS wheat in Minneapolis.

 

All risks of loss quarters of crops of winter wheat in the United States, the Paris stock exchange yesterday reported a dramatic increase. Quotes endorsed declared Algeria a tender and accelerate the export of wheat from the EU, which is a week shipped 195 thousand tons, and in General in the season – 16,24 million tons of wheat, which is 17% below last year's pace.

 

  • the March futures for milling wheat on MATIF rose by 4.75 €/t to 228,5 €/t or 277,48 $/t

 

Export prices for Russian wheat fall months. Week prices for March delivery wheat protein 12,5% decrease, according to the Agency ICARUS, 8.5 $/t to 277,5 $/t FOB, and according to SovEcon, 4 $/t $ 281 $/t FOB.

 

Speculative growth quotes this week will support prices for wheat, however, fundamental factors such as the growing demand, in particular from Australia, soon will increase the pressure on the market.

 

Australia has nearly completed the harvest of wheat, which the state Agency ABARES estimates in record 33,34 million tonnes, which exceeds 31,17 million tonnes in the December ABARES forecast and the previous record for the 2016/17 season – 31.8 million tons.

Visitors’ comments (1):
5:27:36 PM 2021-02-16
Не вся Україна накрита снігом!