The wheat exchanges started the week with drop in prices of

2018-10-09 12:11:39
Machine translation
The wheat exchanges started the week with drop in prices of

Dry weather allowed us to finish harvesting wheat in Kazakhstan and Russia and to obtain predictable yields, helping calm the market. Agency ICAR has increased the forecast of wheat production in Russia to 69.3 69.8 million tons.

 

After a preliminary 3-day growth of French wheat started the week with a drop under pressure sharp decline in prices in Chicago. However, the Euro, which fell to 7-week low, supported by several quotations.

 

the Rate of export of wheat is not satisfactory, although the week lag from the previous season was reduced from 32% to 24%.

 

French traders expect the Algerian tender, where to buy wheat for delivery in December. However, these expectations can ruin a competition with the Argentine wheat new crop.

 

  • December futures on milling wheat in Paris fell by 0.5 €/t up to 203 €/t or 233,27 $/t

 

In the U.S. wheat exchanges started the week with a fall as investors carried out speculative sales and recorded net profit after previous 2-day price increases. Quotes on crushes the dollar continues to strengthen.

 

the Market expects the publication of the October USDA report, which can be increased the supply of wheat in the United States.

 

rains in the southern and Central U.S. Plains have replenished the soil moisture reserves that will contribute to the development of winter crops.

 

December futures for the American wheat has fallen:

2.48 $/t to 190,15 $/t for solid winter HRW wheat in Kansas city

0.83 $/t to 216,42 $/t on a firm spring HRS wheat in Minneapolis.

  • by 2.57 $/ton to 188,86 $/t for SRW soft winter-wheat in Chicago

 

amid mass outages of the vessels, caused by the checks by Rosselkhoznadzor port elevators, the prices of Russian wheat continue to rise, already updated the August high and reached 229-232 $/t FOB Novorossiysk.

 

In Ukraine, wheat prices are also rising due to increasing export demand.

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