The increased pressure of the fundamentals once again started down the wheat quotes

After a minor speculative adjustment yesterday, the wheat exchange went down under the pressure of such fundamental factors as the increase in the area of sowing of wheat in the United States, the improvement of the weather in Europe, Ukraine and Russia, as well as on forecasts of the yield increase in the importing countries because of favorable precipitation.

Us traders after a speculative spike yesterday continued to take profits ahead of the long weekend to celebrate in the USA good Friday.

Export sales of wheat from the U.S. last week fell by 27% to 250 thousand tons, and the whole season was 25.1 million tonnes, with exports of wheat for the week decreased by 59% to 268,7 kt, and just season reached 19.7 million tonnes, which is 0.4% less than the corresponding previous year.

May futures declined:

• by 2.57 $/t to 224,50 $/t for SRW soft winter-wheat in Chicago,
• by 3.95 $/t to 207,60 $/t for solid winter HRW wheat in Kansas city,
• by 4.13 $/t to 220,27 $/t on a firm spring HRS wheat in Minneapolis.

French wheat yesterday declined more than the day before rose.

• the May futures for milling wheat on MATIF fell by 6.25 €/t to 209,25 €/t or 246,5 $/t

Tender in Algeria and tenders Egypt and Saudi Arabia, will soon become the main indicators of wheat prices in the physical markets.

Egyptian GASC has announced the international tender for the purchase of milling wheat supply August 1-10 and payment under a letter of credit which is very unusual because normally he buys a deferred payment, and delivery in the coming months. Such conditions can dramatically increase the number of participants and significantly reduce the price of wheat of the new harvest.

Saudi Arabia auctioned five games milling wheat old crop.

In Ukraine exporters reduced the procurement price of wheat at the port to 220-230 $/t or 7000-7300 UAH/t that has allowed refiners to lower the price to 6600-7000 UAH/t with delivery to the mill. Good weather conditions improve the condition of the winter wheat crop, which increases pressure on the prices of the new harvest.