Precipitation in the United States, Argentina and Russia did not dampen wheat prices

2020-10-19 12:03:54
Machine translation
Precipitation in the United States, Argentina and Russia did not dampen wheat prices

Friday at stock exchanges of the USA and the EU continued speculative rise in wheat prices due to drought in USA and Russia. For precipitation forecasts in these countries in the coming days, traders have not yet paid attention.

 

Export sales of US wheat over the week grew by 23% to 528,5 thousand tons, exceeding expert expectations and actual export of wheat from the U.S. for the week decreased by 28% to 506,7 thousand tons, reaching in 2020/21 MG of 10 million tons, which is 6% higher than the corresponding figure last year.

 

December futures U.S.:

the

0.28 $/t to 205,30 $/t for solid winter HRW wheat in Kansas city

0.37 $/t to 205,67 $/t on a firm spring HRS wheat in Minneapolis.

  • by 2.57 $/ton to nearly 6-year high 229,74 $/t for SRW soft winter-wheat in Chicago

 

the prices of physical market support purchases at high prices given by importers.

 

Coordinating Committee on the economy of the government of Pakistan (ECC) at its meeting on 15 October agreed the purchase of a Trading Corporation TSR to tender 14 Oct 340 thousand tons of milling wheat (with the plan of 300 thousand tons) at a price of 284 $/t C&F, which exceeds the purchase price of a previous tender on October 5 and equal to the price proposed by the Russian company GTCS for the party of 120 thousand tons. the Coordination Committee approved the import of 300 thousand tons of milling wheat at a price of 282.5 $/t C&F in the framework of the intergovernmental agreement with Russia.

 

the

  • December futures for milling wheat on MATIF rose by 2.25 €/t to 209 €/t or 244,8 $/t on data about the delay in sowing.

 

due to the strong rains of winter wheat sown in France, 12% of the planned areas compared to 16% in 2019

 

the

  • December futures for black sea wheat on Friday rose 0.6% to 252 $/t, March by 1.3% to 255 $/t

 

Russia for a week has increased export of wheat by 1% to 1 million tonnes, shipped in 2020/21 MG 14.7 million tons of wheat, which is 5% higher than last year's pace.

 

Ukraine, on the contrary, for a week have reduced wheat exports by 38% to 360 thousand tonnes, shipped in 2020/21 MG 9.5 million tonnes, which is 5% inferior to the corresponding indicator 2019

 

Canada in a week have reduced wheat exports by 65% to 187,4 million tonnes, shipped in 2020/21 MG 3.9 million tonnes, which is 28% higher than the corresponding figure last year.

 

the Increase in wheat prices would reduce the demand from importers, while improving the condition of winter crops can dramatically expand the market, since major exporters are large stocks of wheat that must be sold in the second half of the season, when the buyers will buy more cautious, given the forecasts of the new harvest.

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