On the eve of the may USDA report wheat market in the United States were frozen in uncertainty

2017-05-10 12:11:59
Machine translation
On the eve of the may USDA report wheat market in the United States were frozen in uncertainty

on Tuesday, trading in the wheat exchanges of the USA closed with a minus. Investors awaited the release of the may USDA report, although I think that the main indicators it almost will not be different from the April forecast.

 

Slightly worse weekly indicators of a condition of crops of winter wheat. The share of crops in good and excellent condition fell by 1% to 53%, whereas a year ago the figure was 62%.

 

the July wheat prices in the U.S. declined:

  • in Chicago 1.47 $/tonne to 157,81 $/tones on soft winter SRW wheat,
  • in Kansas city by 2.02 $/tonne to 161,21 $/tone on a solid winter HRW-wheat,
  • in Minneapolis 1.38 $/tonne to 198,78 $/tone on a solid spring HRS wheat.

 

unlike Chicago, the Paris stock exchange ended Tuesday's growth. The market was supported by news about the announcement by Algeria first international tender for purchase of wheat harvest in 2017.

 

experts still have concerns about the deterioration of French wheat crop through adverse weather conditions.

 

Traders hope that through increased export sales Agency FranceAgrimer will reduce the estimate for ending stocks of wheat in France. In recent weeks, increased export of wheat in the UK, Portugal and other countries.

 

the revival of sales was favorably impacted by the weakening of the Euro.

 

  • September futures milling wheat on MATIF rose by 0.75 Euro/ton to 169,25 € /t or 184,10 $/t

 

In Ukraine, wheat prices continue to decline because of reduced demand from exporters and a gradual strengthening of the hryvnia. Last week it reduced the price of the processors that have accumulated significant reserves of honey wheat, and are now trying to buy cheaper grain.