Export restrictions supports the price for black sea wheat
Export prices of Russian and Ukrainian milling wheat at the end of last week increased as a result of the introduction of Romania, Ukraine and Russia's measures to regulate grain exports.
Romania imposed an embargo on grain exports to third countries until mid-may.
Ukraine after consultation with traders has restricted the export of wheat in the current season at 20.2 million tons.
Russia has imposed quotas on grain exports until the end of June, then as of April 14, has exported 1.8 million tonnes of grain, which is 25.6% of the certain quotas. Available for export remain another 5.2 million tons a role here was played by the strengthening of the ruble in recent days.
In the current season Ukraine already exported 18.2 million tons of wheat, which is 33% higher than the corresponding figure 2018/19 Mr. Over the last week, wheat exports increased by 83% to 274 thousand tons.
to form export consignments before the introduction of restrictions traders raised procurement prices of domestic wheat to 202-204 $/t or 6550-6600 UAH/t at the port. However, the manufacturers stop sales in anticipation of further growth of prices on the background of dry weather and a possible reduction in new crop wheat.
the Russian wheat protein 12,5% on the basis of FOB deepwater ports of the Black sea on Friday was trading at 225 $/t 3 $/t more expensive than a week ago. Prices for July deliveries of Russian wheat new crop with protein 12,5% rose $4/t to 202 $/t FOB Black sea.
Prices for black sea wheat today can support Egypt announced a tender for purchase a minimum of 55-60 thousand tons of soft milling wheat with delivery 15-25 may 25 may to 5 June.
the Ministry of industry and trade of Jordan has postponed a tender for закупівлі120 thousand tons of milling wheat from 13 APR to 21 APR with terms of delivery of wheat in October-November.
May futures on soft wheat in Chicago fell yesterday amid predictions of increasing world production of wheat in the new season, that outweighed the factor of possible frosts up to 4-7 degrees in the agricultural regions of southwestern Kansas, Texas and Oklahoma.
the Market did not support even an increase in exports of wheat for the week by 74% to 608 thousand tons due to shipment to the countries of South Asia.
the May wheat futures in the U.S. fell:
1,84 $/t to 193,81 $/t on a firm spring HRS wheat in Minneapolis.
- 0.55 $/t to 203,92 $/t for SRW soft winter-wheat in Chicago
Rose 0.73 $/t to 181,51 $/MT of hard winter HRW wheat in Kansas city.