Wheat exchanges finished the week with rising prices
the Fall in world wheat exchanges, due to a bearish report USDA on Friday ended the growth of quotations. After careful analysis of balances of production and consumption of wheat, traders decided that the price drop was a short-term trend.
Latest tenders witnessed the willingness of importers to buy wheat at a price of 240-260 $/t with delivery that increases the competitiveness of European grain.
- Thanks to this, the December futures for milling wheat on the stock exchange in Paris rose 1 €/t to 197,75 €/t or 229,99 $/t
According to the CFTC report Commtment of Traders on Friday traders closed net long positions in wheat in Chicago at 24351 agreement to 18415 contracts, and wheat in Kansas on 11715 agreements to 43539 contracts.
the December futures for U.S. wheat has increased:
by 5.34 $/t to 189,69 $/t for solid winter HRW wheat in Kansas city
3.77 $/t to 210,26 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.33 $/t to 187,94 $/t for SRW soft winter-wheat in Chicago
In Ukraine, despite the "bearish" report USDA the price of wheat began to rise, because buyers really appreciate the situation with the collection and export of wheat from Russia in the current season.
Now the price of Russian wheat with protein 12,5% remain at 215-218 $/t FOB Novorossiysk, by 10-15 $/t below the price of August.
In the Central Federal district of Russia the number of offers of wheat declined, as farmers are holding back sales in anticipation of possible price increases that will further support the strengthening of requirements to the quality of wheat exported from the phytosanitary service of Russia.
the Rosselkhoznadzor began exporting to announce further check the quality of wheat under the new requirements, the overall uncertainty which will block any party, including those that will be exported to Egypt. However, the Department reported that increased control will only allow exporters to get rid of complaints of customers.