On the speculative markets continued the fall in wheat prices
In wheat markets continued falling of quotations. Traders are speculative sales amid falling demand and a low pace of wheat exports. There is yet no news that could warm up the markets and the fundamental factors are already taken into account in trading strategies.
Dry weather in Russia allows to intensify the harvest and get the projected 105 million tons of grain. As of August 27, with 25.8 million ha (55,4% of the area) produced 76,1 million tons of grain and leguminous crops with a yield of 2.95 t/ha (2017 – 3,7 t/ha). At the same time of 16.8 million ha (61,7% of the area) produced 55.7 million tonnes of spring and winter wheat with a yield of 3.32 t/ha against of 4.13 t/ha in 2017.
- Under pressure potential for growth in the volume of proposals of black sea wheat September futures on milling wheat in Paris fell by 3.75 €/t to 197 €/t or 230,02 $/t
Wheat US exchanges fall the 6th trading day in a row, and quotes wheat during that time lost of 22.5 $/t.
the Pace of wheat exports from the U.S. remain low. USDA inspected 488,187 thousand tons of wheat, which is lower than the level of the previous week and 29.3% less than the same period last year. Since the beginning of the season the total export of wheat amounted to 4,842 million tonnes, which is 35,08% below last year's level.
September futures us wheat fell:
6,43 $/t to 184,36 $/t for solid winter HRW wheat in Kansas city
5.88 $/t to 204,57 $/t on a firm spring HRS wheat in Minneapolis.
- 5,70 $/t to 183,44 $/t for SRW soft winter-wheat in Chicago
In Ukraine, wheat prices fall after global.
Purchase price in the port
wheat of 11.5% down to 195-197 $/t,
feed wheat dropped to 185-190 $/t
- for wheat of 12.5% remained at 202-205 $/t,
Through lower export demand, shipments of wheat from Ukrainian ports fell from 585 tonnes in the previous week to 60 thousand tons a Shortage of containers in the port terminals also leads to lower purchasing prices.