After the USDA report exchange wheat prices continued to fall
Under pressure the September report USDA wheat prices on the stock exchanges of the USA and the EU continued to fall. Traders are concerned about a strong disagreement between the forecasts of analytical agencies of main countries-manufacturers and unexpected balance according to the USDA.
Forecast of production and export of Russian wheat was above not only the expectations of market participants, but also for the official forecast of the agriculture Ministry, which said that export of Russian wheat in the range of 25 million tonnes will not be restricted, and further the possible introduction of additional fees. Experts USDA assess the export potential of Russian wheat in 35 million tons.
- the December futures for milling wheat on the stock exchange in Paris fell by 2.75 €/t to 196,75 €/t or 230,04 $/t
More pressure on prices strengthening of the Euro to the level of 1,169 $/€, which is maximum 2 weeks. Even the news about the purchase by Algeria of a large quantity of wheat could not support quotes.
Wheat exchanges of the USA also ended Thursday lower. An increase in the weekly export sales to 387,5 thousand tons, which is 22.4% higher than the corresponding period in 2017, are unable to withstand the pressure of the bear report USDA.
the December U.S. wheat futures rose fell:
1,84 $/t to 184,36 $/t for solid winter HRW wheat in Kansas city
at 1.10 $/t to 206,50 $/t on a firm spring HRS wheat in Minneapolis.
- by 3.58 $/t to 182,61 $/t for SRW soft winter-wheat in Chicago