New tenders support wheat prices

2020-11-03 12:01:34
Machine translation
New tenders support wheat prices

After a significant 5-day falling price of wheat on the US exchanges yesterday showed speculative growth and the lack of moisture for winter wheat crops in the United States and Russia, as well as the announced tenders for the purchase of wheat. Investors covered short positions and conducted technical purchase.

 

wheat Exports from the U.S. for the week decreased by 39% to 287 thousand ton, and on June 1 reached 11.3 projected of 26.54 million tons, which is 4% higher than the corresponding figure last year.

 

As of November 1, winter wheat in the United States planted 89% of the planned areas compared to 88% last year and 86% on average for 5 years at that date. Shoots were obtained on 71% of the area compared to 69% in 2019 and 70% on average. The number of winter crops in good or excellent condition for the week increased by 2% to 43%, while last year this figure was 57%. Warm weather in the next week and precipitation late in the week will improve the condition of crops. Report crops released after the auction, so it had almost no effect on the market.

 

December futures U.S.:

the

4.32 $/t to 203,19 $/t for solid winter HRW wheat in Kansas city

1.38 $/t to 204,29 $/t on a firm spring HRS wheat in Minneapolis.

  • 3.31 $/t to 223,21 $/t for SRW soft winter-wheat in Chicago

 

Importers are actively pursuing procurement tenders that supports the prices on the physical markets, which last week fell slightly.

 

Grain Agency of Tunisia (ODC) has announced a tender to purchase 50 thousand tons of soft milling wheat and 50 TMT of feed barley.

 

Syrian General Department of processing, storage and grain trading November 9, will hold a tender for the purchase of 150 thousand tons of milling wheat of arbitrary origin.

 

Turkish news Agency TMO on November 11 will hold a tender for the purchase of 550 thousand tonnes of food wheat from 24 November to 18 December.

 

the Japanese agriculture Ministry has announced a tender for the supply 91,612 thousand tons of wheat production of Australia, USA and Canada with delivery in December-February.

 

the Tenders in Turkey and Syria will support the price of Russian wheat, which fell to $250/MT FOB, but remain higher than wheat from Germany and the Baltic countries, which is offered at 240-245 $/t FOB.

 

amid harvest wheat prices in Argentina decreased to 245-250 $/t FOB, although it was recently offered for 260-270 $/t FOB.

 

In Ukraine, traders complete program of purchases of wheat, which reduces competition, and therefore prices after reaching record levels in late October, gradually fell in port before 7800-8100 UAH/t

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