After the collapse on Monday, wheat prices are gradually being restored

2019-05-02 12:04:41
Machine translation
After the collapse on Monday, wheat prices are gradually being restored

on Monday Chicago July wheat futures fell 2.8% to 159,92 $/t due to favorable precipitation, which took place in major producing countries and improved the condition of crops.

 

According to report USDA, the number of crops of winter wheat in good or excellent condition for the week increased by 2% to 64% and precipitation, which will be held shortly, will contribute to the development of plants.

 

price pressure reducing wheat exports from the U.S. for the week by 23% to 630 thousand tons, which is still 40% higher than the corresponding figure last year.

 

on Tuesday and Wednesday quotes U.S. wheat rose slightly amid concern the slow sowing of spring wheat, which held only 13% of the area compared to the average 5-year rate at that date - 33%.

 

Saudi Arabia bought 620 tonnes of wheat protein 12,5% (including made in the USA) with delivery from July to September at a price 233,72 $/t C&F, which is 14 $/t lower than the purchase price at the previous auction on March 4.

 

September wheat futures MATIF has fallen since the beginning of the week 2.25 €/t to 171 €/t or to 191.6 $/t after the American exchanges. Precipitation in Western Europe took concern about the fate of a new crop after a long drought.

 

In Ukraine and Russia the state of the crops of spring and winter crops also improved after the rains.

 

In Ukraine, spring wheat planted 94% of the planned areas, in Russia of 10.9%, or 1.3 million hectares, which is significantly higher than 374,7 thousand hectares that were planted on that date last year.

 

wheat Exports from Ukraine over the week decreased by 35% to 164 thousand tons from Russia increased by 43% to 249 thousand tons.

 

In Ukraine, purchasing prices for wheat continue to decline. Most traders have dramatically lowered the price of grain from the new harvest and delivery to the port in July offer:

165-168 $/t or 5400-5500 UAH/t for wheat with protein 11.5 percent.

  • 158-160 $/ton or 5000 UAH/t for feed wheat,

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