Approaching harvest and strengthening of the dollar brought wheat prices in Chicago to a 2-month low

2021-06-18 12:02:28
Machine translation
Approaching harvest and strengthening of the dollar brought wheat prices in Chicago to a 2-month low

To the factors of favorable weather and the approach of harvesting, which still weighed on wheat prices, yesterday added a sharp strengthening of the dollar and the collapse of neighboring soybean and corn markets due to heavy precipitation in the main producing states.

 

Export sales of new crop wheat from the United States for the week decreased by 11.9% to 287 thousand tons, which corresponds to expert expectations. But the total volume of export sales of wheat of the new crop in the current season, starting from June 1, is 8.5% lower than last year's pace.

 

July futures fell yesterday:

  • by 8 8.73/ton to Чикаго 234.79 / ton for soft winter SRW wheat in Chicago,
  • by 9 9.37 / ton to H 215.04/ton for hard winter HRW wheat in Kansas City,
  • by 3 3.31/ton to.276.03 / ton for hard spring HRS wheat in Minneapolis.

 

The Iranian state agency GTC purchased 180 thousand tons of food wheat for delivery in August at a price of 2 280/ton CFR. The Turkish agency TMO announced a tender for the purchase of 395 thousand tons of food wheat with shipment on August 19-21. These trades will become powerful indicators of Russian wheat prices.

 

On the forecasts of improving weather yesterday on the Chicago Stock Exchange, Black Sea wheat futures fell:

  • August-by 6 6 / ton to 2 245.5 / ton,
  • December-by 7 7 / ton to.255 / ton.

 

French wheat is falling in price after Chicago under the pressure of good prospects for the future harvest and against the background of a sharp strengthening of the dollar against the euro.

 

  • September wheat flour futures for MATIF fell 2 €/T to a 3-week low of 204.5 €/t or 2 243.52 / t.

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