Weather was a new factor supporting wheat prices

Yesterday the price of plenty grew on the background of forecasts of dry weather in the black sea region in the next 2 weeks and with the support of the declared procurement tenders.

Ldera growth was European wheat, which rose by 2.2% and pulled over prices for US exchanges.

According to FranceAgrimer, the number of crops of winter wheat in good or excellent condition for the week decreased from 63% to 62%, while a year ago the figure was 84%.

Also, the market was supported by the depreciation of the Euro and announced several tenders for the purchase of wheat. Jordan purchased 120 thousand tons of wheat with protein 11% at an average price of 230 $/t CFR Aqaba shipped in late June – early July. Turkey has announced a tender for the purchase of 250 thousand tons of wheat. Saudi Arabia has called on domestic investors to supply from abroad 355 thousand tons of wheat.

in Just a week, the EU reduced the export of wheat to 226 thousand tons and since the beginning of the season exported 24,775 million tonnes of soft wheat, which is 66% higher than vdovine period last year.

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• the May futures for milling wheat on MATIF rose by 4.25 €/t to 195,25 €/t or 211,02 $/t

the Market for U.S. wheat yesterday was growing on the forecast of frost in rural areas of the Vast Plains. According to the USDA, as of April 5, in good or excellent condition was 62% of winter wheat, whereas a year ago the figure was 60%. 92% of the area moisture reserves in the topsoil conform to the norm or exceed it, although a year ago the figure was 93%.

Weekly export sales of US wheat were lower than expected and amounted to 320 thousand tons Since the beginning of the season already exported 20.8 million tonnes of wheat, which is 7% higher than the corresponding figure last year.

the May wheat futures in the U.S.:

the

1.38 $/t to 174,80 $/t for solid winter HRW wheat in Kansas city

0.83 $/t to 193,54 $/t on a firm spring HRS wheat in Minneapolis.

• to 2.39 $/t to 204,20 $/t for SRW soft winter-wheat in Chicago

There is a new CinC pressure on the price of Russian wheat, the Egyptian GASC announced a change in supply conditions. Now the wheat will be procured on the basis of C&F. is Also the possibility of payment of grain following an international tender letters of credit with immediate payment upon presentation of relevant documents for the shipment is determinewhich payments that are practiced now. Deferral of payments and quality check of grain at the port of shipment added about 4-5 $/t price of wheat, which the company took into account as insurance in case of non-payment or refusal of acceptance of goods.