Precipitation continues to lower the price of wheat
Forecasts heavy rains in Central and Northern Europe and the black sea region in the next 7 days continue to put pressure on wheat prices on the exchanges and physical markets.
the Market for French wheat remains under pressure from weather factors. Following France and Germany, the rains will come and in other EU countries, Ukraine and Russia.
wheat Exports from the ports of France remains quite active but traders say that buyers are more interested in the grain of the new harvest.
the
- September futures for milling wheat on MATIF fell by 2.5 €/t to one-month low of 183.25 €/t or 199,21 $/t
the Market for U.S. wheat falls on improved weather conditions in the EU and the black sea, raising the potential of the new crop. July wheat futures in Chicago fell to the lowest since March 19, level.
the July wheat futures in the U.S. fell:
the
2.48 $/t to 175,26 $/t for solid winter HRW wheat in Kansas city
to 2.39 $/t to 186,47 $/t on a firm spring HRS wheat in Minneapolis.
- 3.49 $/t to 189,78 $/t for SRW soft winter-wheat in Chicago
July futures for black sea wheat has fallen to 196,5 $/t, while the volume of trade rose to 87.5 thousand tons.
Argentina provides wheat with protein 11.5% of the old crop with a shipment in June from 235 $/t, FOB Up River, and the new crop shipped in December – for $200/MT FOB Up River.
because of concerns about the next increase of export duties last week, Argentine farmers have sold 485 thousand tons of new crop wheat, whereas a year ago the figure was only 46 thousand tons.
In a MSG of Moldova reported that the drought the country may lose 40-50% of the new crop of wheat. Next week, the Ministry promises to publish detailed records of grain production.
