The fall in world markets lowers the price of wheat

wheat Prices fell yesterday following the collapse of the stock and commodity markets due to the introduction of USA 10% duty on Chinese goods.

the Falling prices for soft wheat in Chicago and low export demand for French wheat led to the fall of quotations on the MATIF. The prices are somewhat supported the weakening of the Euro to its lowest in 26 months level 1,104 $/€ and reduce the experts of the German farmers ' Association forecast of wheat production in the country by 2 million tonnes to 22 million tonnes due to severe drought and heat. In the past year Germany collected 19.6 million tonnes of wheat. In southern and Central Germany wheat threshed 80% of the area, but in Northern regions, 50% of the harvest has not been collected yet.

French farmers due to the dry weather will finish the wheat harvest until the end of the week. However, they do not hurry to sell grain for too low prices.

• September futures for milling wheat on MATIF fell by 1.75 €/t up to 173 €/t or 191,84 $/t

If on Tuesday and Wednesday, the futures of soft wheat in Chicago fell by 6 $/t, only on Thursday they lost 4 $/t pressure drop neighboring markets of soybeans and corn.

Investors are still speculative sales of wheat contracts.

wheat Exports from the U.S. last week fell by 41.9% to 383 thousand tons, which corresponds to the lower end of expectations, so further pressure on prices.

the September wheat futures in the U.S. fell:

by 2.57 $/ton to 152,76 $/t for solid winter HRW wheat in Kansas city

0.37 $/t to 190,51 $/t on a firm spring HRS wheat in Minneapolis.

• 4.23 $/t to 174,80 $/t for SRW soft winter-wheat in Chicago