Despite low demand prices for old crop wheat are gradually rising
< span style="font-size:14px;" > following a sharp jump in stock prices yesterday, prices for wheat, especially of the old crop, also rose in physical markets. While wheat futures of the new crop fell due to traders ' profit-taking in a market that was rather overheated by speculators.
< span style="font-size:14px;">the Algerian agency OAIS at the tender on April 28 purchased 200 thousand tons of soft flour wheat for delivery in June at a price of 3 316-317/ton C&F.
- at the results of the Algerian tender, may wheat flour futures on Euronext yesterday rose by another 4 €/T to 251.25 €/t or або 304.92/t (and in general, since the beginning of the week – by 15 €/T), while September futures decreased by 0.75 €/t to 226.75 €/t or 274,4 $/t. < /li>
< span style="font-size:14px;" > on the Chicago Stock Exchange, traders recorded profits after updating soft wheat futures to an 8-year high. In addition, the cancellation of the Egyptian GASC tender gave the market a signal that prices are very overheated.
< span style="font-size:14px;">July US futures fell:< / span> < / p>
- < li> < span style= " font-size: 14px;">by 3 3.67/t to до 265.56 / t for soft winter SRW wheat in Chicago,< / span> < / li>
- < span style= " font-size: 14px;" > by 5 5.42/t to до 255.92 / t for hard winter HRW wheat in Kansas City,< / span> < / li>
- < span style="font-size:14px;" > by 5 5.60/t to.268.96/t for hard spring hrs wheat in Minneapolis.
< span style="font-size:14px;">rising corn prices continue to support the wheat market. Asian buyers have stepped up purchases of Australian wheat at 2 290/ton C&F, while corn is offered at 3 310-340/ton C&F.
< span style = " font-size:14px;" > on the Chicago Stock Exchange, July Black Sea wheat futures rose to вчора 269/ton yesterday, while December futures fell by 3 3.25/ton to 2 272 / ton.< / span> < / p>
< span style="font-size:14px;">supply prices of Black Sea wheat of the old crop for delivery in May – June increased to 2 270-275/ton FOB, although demand prices do not exceed F 260/ton FOB. Asian buyers prefer wheat from Australia, while importers from the Middle East are interested in cheaper wheat from the new crop.
< span style="font-size:14px;" > in Ukraine, purchase prices for wheat increased by another 5 5/ton to 2 250-252/ton for deliveries to the port in April – May and to. 240/ton for deliveries in July – August, following an increase in corn prices in the port to 2 265-270/ton.