The wheat exchanges, the increasing pressure of "bearish" factors

2018-09-27 12:04:51
Machine translation
The wheat exchanges, the increasing pressure of "bearish" factors

on Wednesday, the wheat exchanges took place under the influence of bearish news.

 

the Main factor of pressure was the increase in the wheat crop forecast in Argentina to a record 19.7 million tonnes, down from 17.8 million tons in 2017 Harvest, which will start collecting in November, will arrive on markets in December-January when it will begin reducing the pace of Russian wheat exports, and will essentially compete with European or American ones.

 

stock price pressure enhance sales of wheat from Ukraine and Russia. For the week, Ukraine increased exports of wheat by 24% to 499 thousand tons, Russia – 415 to 587 thousand tons.

 

Port elevators in Rouen and La Palls crowded through lower export demand. The situation is complicated logistical problems: low water levels in rivers prevents movement of grain as ports and neighboring countries.

 

However, the depreciation of the Euro and speculative buying supported the prices on the Paris stock exchange.

 

  • December futures on milling wheat in Paris rose 0.25 €/t to 201,25 €/t or 236,31 $/t

 

the Market for U.S. wheat retreated on Wednesday, under pressure from speculative sales.

 

Experts estimated weekly exports of wheat from the United States in the range 250-500 thousand tons, however, these indicators do not satisfy the market, especially amid competition from Ukrainian and Russian grain.

 

the December U.S. wheat futures rose fell:

0.37 $/t to 191,43 $/t for solid winter HRW wheat in Kansas city

1.29 $/t to 212,19 $/t on a firm spring HRS wheat in Minneapolis.

  • 1.19 $/ton to 190,15 $/t for SRW soft winter-wheat in Chicago

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