Wheat markets continued speculative growth of quotations

on Wednesday, the wheat quotations recovered after the global stock and commodity markets. Market participants hope that the Central banks of their countries will introduce programs to stimulate the economy under the current crisis. In addition, the researchers promise to soon end the vaccine coronavirus.

At the Paris MATIF funds yesterday actively opened long positions in wheat.

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• March futures for milling wheat on MATIF rose by 3 €/t to 193,75 €/t or 213,09 $/t

On the U.S. stock exchanges continues speculative growth investors close short positions and carry out technical buying. However, despite the 3-day growth of quotations of March futures of soft wheat in Chicago by 7.16 $/t lower than the last peak on January 21.

Experts predict weekly export sales of US wheat at the level of 200-700 thousand tons and lower limit of expectations compared to the previous week dropped by 100 thousand tons.

March wheat futures in the U.S.:

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to 2.39 $/t to 174,07 $/t for solid winter HRW wheat in Kansas city

1.29 $/t to 196,67 $/t on a firm spring HRS wheat in Minneapolis.

• 1.75 $/t to 206,50 $/t for SRW soft winter-wheat in Chicago

Export price of Russian wheat protein 12,5% dropped to 222-223 $/t FOB, but the demand for it is almost absent. The prices for wheat on the domestic market of Russia remains high, which makes traderoute export shipments amid falling export prices.