Demand for wheat puts pressure on stock prices
the Demand for wheat on the physical market from importers remained low through high world prices, falling currency exchange rates in major importing countries, which leads to a decrease in the purchasing power of the population.
Egypt at yesterday's tender bought only the cheapest batch of 60 thousand t wheat at the price of $6 per ton lower than at the previous auction.
Jordan purchased 60 thousand tons of wheat at a price of 253 $/t CFR Aqaba with delivery in November, which is 2 $/t lower than at the previous tender.
Traders cut prices ahead of the report USDA, which can be increased the forecast of corn production.
- December futures on milling wheat in Paris fell by 0.75 €/t to 199.75 €/t, however, due to the strengthening of the Euro to 1,162 $/€, the price in dollars remained at the level of 231.6 $/t
the Market for U.S. wheat yesterday was under pressure from low export demand and rainfall in the growing regions of winter wheat that will facilitate sowing.
due to the low competitiveness of us wheat wasn't even involved in the Egyptian tender.
December futures U.S. wheat fell:
3.31 $/t to 194.00 $/t for solid winter HRW wheat in Kansas city
1.65 $/MT to 213,21 $/t on a firm spring HRS wheat in Minneapolis.
- by 3.58 $/t to 191,81 $/t for SRW soft winter-wheat in Chicago