The wheat exchanges started the week with drop in prices

Precipitation in the United States and the black sea countries that have already passed and will soon continue, lower exchange prices for wheat, despite forecasts to the lack of precipitation in Europe in the next week and a reduction of the estimated yield of wheat.

after 2 weeks in the US begin to harvest and precipitation in major growing regions of wheat increase the yield potential. According to the USDA, as of may 17 in good or excellent condition was 52% winter wheat, which is 1% lower than the level of last week and by 14% last year.

the July wheat futures in Chicago has renewed 2-month low amid speculative sales investors. Wheat exports from the U.S. last week amounted to 440.9 thousand tons, but only in the season – 23,88 million tons, which is 90.5% of the USDA forecast, although higher than 1% last year.

the July wheat futures in the U.S. fell:

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to 2.20 $/t to 163,97 $/t for solid winter HRW wheat in Kansas city

0.55 $/t to 185,46 $/t on a firm spring HRS wheat in Minneapolis.

• 1.19 $/ton to 182,61 $/t for SRW soft winter-wheat in Chicago

In yesterday's MARS report, the European Commission has reduced the forecast of winter wheat yield in comparison with the estimates of April by 2.6% to 5.72 t/ha, which is 0.9% below the average 5-year average.

the Market for French wheat reacted more favourable for grain crops precipitation in the United States and black sea countries, rather than the possible return to drought in certain regions of the EU, including in the North of France. The strengthening of the Euro exchange rate to 1.08 $/€ has increased pressure on prices.

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• September futures for milling wheat on MATIF fell by 2 €/t to 184,5 €/t or 201,27 $/t

UK and EU for a week exported 172,3 thousand tons of wheat (mainly from Germany), and since the beginning of the season 30.2 million tonnes, which is 64% higher than last year.

the price of Russian wheat new crop amid forecasts of record production and carryover stocks fell to 193-195 $/t FOB. Wheat exports from the last week decreased by 29% to 445 thousand tons, and free within the quota by 7 million tons before July 1, be only 1.5 million tons.

In Ukraine, the wheat of the new harvest in July offer at 190-195 $/t FOB, which corresponds to the level 178-180 $/t at the port. Grain prices of the old crop as traders export programs dropped to 193-195 $/t or 6000-6100 UAH/t

For the week, Ukraine increased wheat exports by 42% - from 290 to 413 thousand t, and in General in the season exported 19,733 million tonnes, 0.5 million tonnes is inferior to a certain Memorandum record.