Despite the high demand and wheat prices in the U.S. continue to fall
the new trading week in the US on Tuesday began with the fall. Prices under pressure of strengthening dollar and speculative sales.
However, supported the market news from the USDA, whose inspectors checked the shipment of wheat in 558,252 thousand tons, which is 72% higher than the previous week and 107% over the same period last year.
in addition, it is expected that the USDA report, which will be released at the end of the week will be a reduced amount of acreage under wheat in comparison with the previous report.
the March wheat prices in the U.S. declined:
- in Chicago by 1.84 $/tonne to 160,20 $/tones of soft winter wheat SRW,
- in Kansas city by 1.46 $/tonne to 166,17 $/tones on hard winter wheat HRW,
- in Minneapolis by 1.82 $/tonne to 198,87 $/tone for hard spring wheat HRS.
the Lack of moisture in Europe causes concerns about the condition of the plants. Soon resumed vegetative development, thus, precipitation is extremely necessary. In addition, low water levels in the Rhine and Danube causes logistical problems.
Importers are actively purchasing wheat. So, Jordan has purchased 50 thousand tons of wheat from Ameropa company at 202 $/t on the basis of C&F for delivery in July-August. Tunisia has announced a tender for the purchase of 109 thousand tons of milling wheat March 15 – April 25.
today, the Egyptian GASC tenders for the purchase of 55-60 thousand tons of soft milling wheat with delivery 25 March – 4 April, whereas last week it was acquired by 360 thousand tons of black sea wheat.