In the Egyptian tender was won by European wheat
Yesterday, at the tender Egyptian GASC bought 240 thousand tons of Romanian wheat for delivery on August 1-10 at the price 218,1 $/t C&F (or 203,95 $/t FOB + freight 14,15 $/t), while the Russian wheat was offered at 206,2-210,69 $/t FOB.
Harvesting campaign and a weak Euro continue to put pressure on European prices of wheat.
September futures milling wheat on MATIF fell by 2.75 €/t to 171,75 €/t (198,71 $/t), and from the beginning of June lost 14 €/t
the prices of agricultural products in the US fell due to the deterioration of relations with China. Soybeans fell to a 10-year low, and wheat in Chicago yesterday lost 2.5% and only 12 of June of 20.85 $/t
the market under pressure good rates of harvesting, in good condition spring wheat crops and low export demand. Wheat exports dropped by 11.5% to 372,843 thousand tons, which is twice lower than the corresponding indicator of 2017. During the first 2 weeks of the new season was exported 51% of wheat less than last year.
the July wheat futures in the U.S. fell:
by 6.06 $/t to 177,47 $/t for solid winter HRW wheat in Kansas city
by 5.24 $/t to 201,90 $/t on a firm spring HRS wheat in Minneapolis.
- 4,50 $/t to 175,54 $/t for SRW soft winter-wheat in Chicago
Experts ABARES increased the forecast of wheat production in Australia in the new season by 3.1% to 21.9 million tonnes, but lowered its assessment of exports by 5% to 15.2 million tonnes because of rising domestic demand for feed grain.
World wheat production in 2018/19 MG is estimated at 743 million tonnes (compared to 758 million tonnes in 2017), and consumption at 758 million tonnes More wheat harvest will decrease in the black sea countries (Ukraine, Russia and Kazakhstan) – from 127 to 114 million tons.
the agrarian policy Ministry predicts grain harvest in Ukraine at the level of 60 million tons, despite dry conditions in some regions. Precipitation, last weekend, improved the condition of grain crops.
Russia produced the first 100 thousand tons of winter wheat, the average yield is 4 t/ha.