After the speculative growth of wheat exchanges is a price adjustment
After a sharp spike on news of Russian market of French wheat went to the correction of quotations.
- December futures on milling wheat in Paris fell by 1.5 €/t to 201,75 €/t or 235,41 $/t
Speculators try to reheat the wheat market in the United States data on the limitation of Russian exports, since the meeting in the Ministry of agriculture will be held on Monday. However, traders decided that the market is too oversold and the price jump was too large.
Everyone is waiting for Friday's report by statistics Canada in which the forecast of wheat production in 2018 will decrease to 30.6 million tons against forecasted in August USDA 32.5 million tons.
Supported rates information that the share of milling wheat in the Ukrainian and Russian grain are lower than average.
December futures U.S. wheat fell:
by 3.03 $/t to 198,78 $/t for solid winter HRW wheat in Kansas city
2.85 $/t to 214,49 $/t on a firm spring HRS wheat in Minneapolis.
- 2.48 $/t to 196,58 $/t for SRW soft winter-wheat in Chicago
In Ukraine for lack of containers in the terminals, the demand for wheat in the ports is very low. The rate of exports correspond togoron, but almost all traders have the logistic problems that can be further enhanced with the approach of the corn harvest.
According to the agriculture Ministry, Ukraine in 2018/19 MG as of August 29, exported 5 million tons of grain, in particular:
barley, 1.3 mln MT,
corn, 1 million tons.
- wheat and 2.6 million tons,