The decrease in the price of wheat
on Monday the price of September futures of French wheat fell to the lowest level in the last 8 months.
So the Paris stock exchange reacted to the drop in prices of soft wheat in Chicago on Monday to a two-month low.
in addition, traders still reeling after the release of the USDA forecast with stunning forecast of Russian wheat exports, which rose to a record 31.5 million t. in addition, the price of Russian wheat is now more competitive than the French.
it is Worth noting that the French wheat actively restores position on the Algerian market, which was lost last season. Some cargo ready to be shipped from the port of Rouen to Algeria.
- September milling wheat quotations on the MATIF fell by 1.50 €/t to 159.00 €/t (187,27 $/t).
soft wheat In Chicago for almost a whole day traded in negative territory. Exchanges are still under pressure of "bearish" USDA report with record world stocks and supply. However, traders drew attention to the reduction of the grain Association of Western Australia (GIWA) assessment of wheat production in Australia to 18.16 million tons and a further deterioration in production prospects in Canada because of the drought in the prairies.
the September wheat futures in the United States for 14 Aug fell:
- soft wheat SRW in Chicago by 0.64 $/t to 162,04 $/t,
- for hard wheat HRW in Kansas city by 1.65 $/MT to 160,48 $/t,
- on a hard spring wheat HRS in Minneapolis by 1.47 $/t to 246,18 $/t