The fall in wheat prices continues

on Wednesday, the wheat has become a leader in the fall of stock prices among other crops. High spring rates and increasing the supply increases the pressure on prices.

Today, the Egyptian GASC tenders for the purchase of at least 55-60 thousand tons of soft milling wheat supply March 11-25, which will be an additional price indicator.

Prices of Russian wheat protein 12,5% remain at a high level 330 to 335 $/MT FOB for deliveries in February and March, although the demand for it is minimal since buyers have made stocks in February and expect lower prices in March.

Yesterday in Chicago futures for black sea wheat was sold 4300 lots, which is equivalent to 215 thousand tons. Investors took profits amid uncertainty with the further market trends.

In Ukraine the price of wheat since the beginning of the week dropped to 3-4 $/t to 211-213 $/t or 6100-6200 UAH/t, although they supported the growth of the dollar on the interbank market. Traders note the increase in demand from Indonesia and steady demand from Egypt and Bangladesh, however, the decrease of offers from producers and reduced stocks allows traders to form large export shipments.

wheat Prices in Chicago falling for the 4th day in a row because of pessimism about the export prospects for U.S. wheat due to its ultra-high price.

March wheat futures in the U.S. fell:

the

by 3.67 $/ton to 173,43 $/t for solid winter HRW wheat in Kansas city

to 2.39 $/t to 196,85 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.75 $/ton to 206,59 $/t for SRW soft winter-wheat in Chicago

In Europe the price of wheat has not changed, however, as a result of the resumption of the strike of dockers in France export activity decreases.

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• March futures for milling wheat on MATIF fell by 0.3% to 193,75 €/t or 212 $/t

Due to high demand from Iran the March proposal of German wheat has risen by 12.5% premium to FOB-Germany 13 €/t relative to the March futures, which is the equivalent of 229.5 $/t

In Argentina farmers for the week increased sales to 270 thousand tons, which is 11% inferior to the corresponding period last year, indicating lower demand from importers.