Wheat exchanges remained at a crossroads under the influence of news from Canada and Egypt

< span style="font-size:14px;">yesterday, wheat exchanges traded under the influence of various factors: forecasts of a reduction in the area of sowing and harvesting wheat in Canada and the refusal of the Egyptian GASC to buy expensive wheat.

< span style="font-size:14px;" > without any official explanation, the Egyptian GASC canceled the tender for the purchase of flour wheat of any origin for delivery on August 11-20 immediately after receiving 12 offers from international traders, the prices of which were 268.48 – 297 f/ton FOB and 30-35 $/ton higher than the purchase price of previous auctions. Ukrainian wheat was offered at 2 281-285/ton FOB, Russian wheat – at.277-295/ton FOB, French wheat – at. 289.75/ton FOB, and the cheapest and most expensive was Romanian wheat.

< span style="font-size:14px;" > according to the forecast published yesterday by the Statistical Office of Canada (Statcan), wheat sowing areas in 2021 will decrease by 6.9% compared to the previous year to 9.4 million hectares, in particular spring wheat – by 8.8% to 6.6 million hectares, winter wheat – by 11.2% to 490 thousand hectares, while durum wheat sowing areas will increase to 2.3 million hectares.

< span style="font-size:14px;" > yesterday on the Kansas City Stock Exchange, hard winter wheat rose in price on data on the deterioration of crops, and speculators in Chicago recorded profits after updating prices for winter soft wheat to an 8-year high.

< span style="font-size:14px;">US July futures down:< / span> < / p>

• < li> < span style= " font-size: 14px;" > by 2 2.48 / t to до 269.23 / t for soft winter SRW wheat in Chicago,< / span> < / li>
• < span style="font-size:14px;" > by 0 0.64/t to.274.56/t for hard spring hrs wheat in Minneapolis.    

< span style="font-size:14px;">increased by 0 0.92/ton to H 261.34 / ton hard winter HRW wheat in Kansas City.

< span style="font-size:14px;">French wheat rose in price yesterday on forecasts of lower yields and increased trade with China in the new season due to its decision to replace expensive corn with cheaper wheat in animal feed diets.

< span style="font-size:14px;" > the European Crop Monitoring Agency lowered its forecast for wheat yield in the EU from 5.89 to 5.86 t/ha compared to the March assessment.

• May wheat flour futures on MATIF rose 0.5 €/T yesterday to 247.25 €/t or 2 298.55/t, and September futures rose 1.25 €/t to 227.5 €/t or 2 274.8/t. < / li>
• On the Chicago Stock Exchange, July Black Sea wheat futures yesterday rose by $2.25/t to $266.5/t, August – by $5/t to $270/t, December-by $ 5/t to $ 275 / t.< / span>< / li>

< span style="font-size:14px;" > in Ukraine, purchase prices for wheat in the port increased by another 5 5/ton to 2 245-250/ton for deliveries in April – May and to.235-240/ton for deliveries in July – August.

< span style="font-size:14px;">but traders note low demand for both old and new wheat crops, so prices rise exclusively following quotes on World exchanges.