The wheat market continues to struggle speculators and importers

Wheat quotes still depend on heat in the United States, where for the next week will remain the temperature of 36-40 degrees Celsius.

 

on Friday, wheat on the U.S. stock exchanges continued the decline that began yesterday. Investors took profits after the price has reached multi-year high.

 

Importers have hinted that the wheat market is too overheated. Weekly export sales of wheat in the United States amounted to 375,278 thousand tons, which is 23.7% less than the previous week, and 54.5% less than the level analogo period last year.

 

the September wheat futures in the U.S. fell:

the

• 1.47 $/t to 196,58 $/t for SRW soft winter-wheat in Chicago
• the
• 1.29 $/t to 199,51 $/t for solid winter HRW wheat in Kansas city

 

European exporters started to create stocks of high protein wheat on a background of shortages in the United States.

 

the

• September quotes French milling wheat on MATIF rose by € 1.25/t to 179.00 EUR/t or 204,10 $/t

 

Saturday's Egypt at the tender purchased 115 thousand tons of milling wheat of Russian origin, with delivery 10-20 August for higher than the previous week price. This reflects the fears of Egypt on further price increases.

 

In Russia and Ukraine wheat prices rose by $ 1-2 to the level of 185-190 $/MT on FOB basis for wheat with protein of 12.5%.