The fall of the markets of soybeans and corn presses on the exchange of wheat
on Thursday, amid falling markets of soybeans and corn-minus ended trading on the American grain markets.
In Chicago corn futures fell 1% due to the depreciation of the Brazilian real, but then on the news on exports had recovered almost to the previous level. Weekly export sales reached 705,325 thousand MT and became the second most important indicator of the 2016/17 season.
China yesterday sold at 3.56 million tons of the state reserve of 4 million tonnes of maize harvest in 2013. Harvest in Argentina is improving and over the week rose to 33.1 per cent against 31.8 per cent a week ago.
Export sales of wheat exceeded the expectations of experts and kept prices from significant falls. The sales volume of wheat crop amounted to 2016 247,6 thousand tons, which is 40% higher than the average of the previous four weeks. Wheat of the new harvest was sold 393,1 thousand tons.
the July wheat prices in the U.S. declined:
- in Chicago of 0.5 $/t 156,4 to $/ton, SRW soft winter-wheat,
- in Kansas city for 0.2 $/t to 156,2 $/t for solid winter HRW wheat.
In Minneapolis hard spring HRS wheat gained 1.4 $/t to 200.2 $/t
strengthening of the Euro leads to a decrease in the competitiveness of European grain on world markets, which is confirmed by the results of the latest Egyptian tender.
- On Euronext, the price of wheat decreased by € 1/t to 165,75 Euro/ton or 184,4 $/t
Recall that 17.05.17 Egypt purchased 295 thousand tons of wheat at a price 207,18-208,74 $/t CIF. The victory was won by 115 thousand MT of wheat from the United States, and the party on 60 thousand t production in Romania, Ukraine and Russia. The price of black sea grain was 197-198 $/MT on FOB basis.