Precipitation in the United States collapsed, wheat prices
the Weekend over the regions of winter wheat production in the United States was swept with a storm of snow and rain that brought a welcome moisture to the crops that emerging from winter dormancy. Unfortunately, rainfall has been insufficient to improve the condition of crops. According to weekly monitoring, the level of drought in Kansas and Texas continues to grow, and only in Oklahoma recorded improvement of crops.
However, the rainfall became the impetus for the investors active sales, that quotes in Chicago fell by 3.2%, and in Kansas – to a record 3.4 percent.
wheat Exports from the U.S. last week rose by 3.37% to 443,2 thousand tons, which is 31.9% lower than in the corresponding period last year.
After the American exchanges and on the background of forecasts about increase in wheat production in the EU, Ukraine and Russia, may futures milling wheat on MATIF fell by 2.5 €/t to 162,25 €/t (of 200.2 $/t).
In the first report on productivity in 2017/18 MG the MARS Agency experts predict that due to the mild winter, which contributed to the overwintering of winter crops in the EU, Ukraine and Russia wheat yields will increase to 5.94 t/ha, which exceeds last season's 1.5% and the average 5-year figure of 3.7%.
wheat Exports from Russia at 415 exceeded the level of last year and amounted to 36,36 million tonnes, however, continues to grow. The price of Russian wheat with protein of 12.5% on FOB remains within 206-207 $/t
In Ukraine, wheat prices remain stable, although traders are trying to strengthen procurement, since under the terms of contract between traders and Minagropolitiki of the Memorandum of understanding, to the end of the 2017/18 season Ukraine can export more of 2.81 million tons of wheat.