News about negotiations between the US and China supported the price of wheat
the Main news, which led to the growth of the market of soybeans and supported neighboring markets yesterday was the announcement of an agreement between the presidents of the United States and China in the near future to resolve trade disputes between countries.
the Experts have reduced the forecast of wheat production in Argentina from 19.7 to 19.4 million tons after the next wave of frost that can damage wheat, harvesting of which will begin in November and January.
Next week, forecasters predict a sharp decline in temperature, risk of frost in the West and South of the grain belt.
the Rosselkhoznadzor informed about the intention to ban through the courts activities 5-6 sites for the shipment of grain in Krasnodar region and Rostov region on the results of inspections. Some of the platforms and elevators are not officially registered to avoid paying taxes.
- At these news in Paris December futures on milling wheat rose by 2.25 €/t to 200,75 €/t or 228,77 $/t
the price of wheat in the United States on Thursday, grew with support from the soybean market and news of good export sales, which grew within the week by 31.6% to 582 thousand tons, which is 67% higher than the previous year and significantly exceeds traders ' expectations.
the December wheat futures on US exchanges rose:
by 2.94 $/t to 184,17 $/t for solid winter HRW wheat in Kansas city
by 2.76 $/t to 211,92 $/t on a firm spring HRS wheat in Minneapolis.
- by 2.75 $/ton to 186,65 $/t for SRW soft winter-wheat in Chicago