Low demand lowers the price of wheat of the new harvest

the Global wheat market remains inactive, because the importers are not in a hurry to buy grain from the new harvest, waiting for lower prices under pressure with a good rate of sowing and favourable weather conditions in major exporting countries.

the Ministry of industry and trade of Jordan on Tuesday held a tender for purchase of 120 thousand tons of milling wheat of arbitrary origin, but canceled all orders via too high a price.

Japan on Tuesday announced a tender for the purchase 110,573 thousand tons of Australian, canadian and American spring and winter wheat for delivery in July.

Buyers from Egypt and Indonesia were interested in the supply of wheat for July-August, however, while indicative of the prices there.

After a decline in wheat futures on the stock exchange in Chicago to 2-month low, traders began to cover short positions and carry out speculative purchases, which have supported the quotations.

Sowing of spring wheat in the U.S. is accelerating, and as of 18 may it is planted on 60% of the forecast, compared with 63% last year and 80% average for 5 years at that date. Due to favorable weather conditions, the seedlings obtained at 30% of the area compared to 21% last year.

Quotes of hard wheat in Kansas continues to decline as you move the harvesting campaign in the state of Texas.

the July wheat futures in the U.S.:

the

1.29 $/t to 186,75 $/t on a firm spring HRS wheat in Minneapolis.

• 0.64 $/t to 183,26 $/t for SRW soft winter-wheat in Chicago

Fell for 1.75 $/t to 162,22 $/MT of hard winter HRW wheat in Kansas city.

In Russia, spring crops were sowed 73,5% of the area or 21.4 million hectares, which is 12% higher than last year's pace. In particular, spring wheat sown 8.5 million hectares, 69.8% of the area compared to 34,8% in the past year.

Precipitation is expected in the South of Krasnodar and Stavropol territory, where there was deficit of moisture, as well as the active planting of spring wheat increase the production forecasts of wheat in the new season.

In Ukraine sowing of spring crops is almost complete, and the forecasted rains will contribute to the development of crops.