The improvement in the weather conditions increases the pressure on wheat prices

wheat Prices continue to fall amid improving weather conditions for winter crops development and instability on the eve of elections of the President of the United States and entering the markets of newly harvested corn.

Traders understand that the sharp increase in the number of diseases coronaviruses in the United States and Europe and the strengthening of quarantine soon again will slow down the development of the economy and will reduce fuel demand, and therefore oil, the prices for rapeseed and corn continue to fall. After corn prices wheat quotes on the stock exchanges of the USA for a week lost 6%.

On the background of increased supply of maize and expectations to market Australian wheat to Asian buyers drastically reduced the demand for wheat, whereas the competition between European and black sea wheat is enhanced.

the depreciation of the Euro against the dollar lowers the dollar price of European corn, what makes Russian and Ukrainian sellers to lower the price proposals.

Russia has completed the harvest of wheat, which amounted to 87.5 million tonnes, on the back of high export prices will increase offers in a falling market.

bid Prices of Russian wheat protein 12,5% fell to $250/MT FOB, while the bid price does not exceed 245 $/MT FOB. In traditional Egyptian market, bid prices are 260 $/t delivered.

For the week, Russia reduced wheat exports by 37% to 1 million tonnes, and in General in 2020/21 MG shipped 17,4 projected 39 million tons.

Ukraine per week reduced wheat exports to double to 286 thousand tons, and from the beginning of the season shipped to 10.3 with a projected 17.5 million tonnes, which is 7% below the corresponding indicator 2019

Canada in a week have reduced wheat exports by 50% to 279 thousand tonnes, shipped from August 1 to 4.8 of the projected 25 million tonnes, which is 26% higher than on that date in 2019

December futures for soft wheat in Chicago has updated a 2-week low against the background of fixation investors profits after reaching multi-year high and amid rains in arid regions of the United States.

December futures in the U.S. fell:

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0.28 $/t to 198,87 $/t for solid winter HRW wheat in Kansas city.

• 1.93 $/t to 219,91 $/t for SRW soft winter-wheat in Chicago

Remained at the level of 202,91 $/t hard spring HRS wheat in Minneapolis.

On the stock exchange in Paris on Friday continued adjustment of quotations, as no second wave Covid-19, any possible lockdown, according to traders, could account for the very substantial fall in prices the day before.

the European Commission has increased the forecast of wheat production with up to 113,5 115,9 million tons, but left unchanged the forecast for exports of soft wheat in 2020/21 MG at 24 million tons.

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• December futures for milling wheat on MATIF rose by 0.25 €/t to 205,25 €/t or 239,03 $/t