Wheat quotations on us exchanges rose sharply

2020-05-29 12:40:49
Machine translation
Wheat quotations on us exchanges rose sharply

the Dry conditions in the regions of cultivation of wheat in the United States and the West the EU continues to reduce the supply Outlook for these countries, despite the expected growth of world production and ending stocks for wheat.

 

In yesterday released its may report to the IGC estimate of world wheat production in 2020/21 MG increased compared with the April forecast by 2 million tonnes to 766 million tonnes, 3.5 million tonnes will exceed the level of the current season. The forecast of world consumption of wheat decreased by 5 million tonnes to 750 million tonnes, which is still 2.25 million tons exceeds the level of the 2019/20 season. Due to reduced consumption ending stocks of wheat in the new season have increased 1 million tons to 290 million tons, which is 16.8 million tons exceeds the level of the current season and may be a new record.

 

Wheat exchange in the United States on Thursday unusual have grown together on forecasts of hot and dry weather in the main agricultural regions of the Midwest and the American Plains.

 

Additionally, the market was supported by the depreciation of the dollar.

 

the July wheat futures in the U.S.:

the

at 4.50 $/t to 170,49 $/t for solid winter HRW wheat in Kansas city

2.21 $/ton to 190,79 $/t on a firm spring HRS wheat in Minneapolis.

  • by 3.67 $/ton to 189,04 $/t for SRW soft winter-wheat in Chicago

 

yesterday the European Commission lowered the forecast of production of soft wheat in EU 2020/21 MG another 3% to 122,5 million t, and an estimate of its exports to 26.5 million tons.

 

Despite the projected reduction in production and the return of dry weather, the September futures of French wheat on Thursday fell to a week low, however, at the end of the session turned up behind Chicago.

 

the

  • September futures for milling wheat on MATIF rose by 0.75 €/t to at 187.25 €/t or 207,55 $/t

 

most of the territory of France reigns hot and dry weather, and precipitation is expected only next week. The statistics Department of Poland reported that the winter wheat crop due to drought and freezing are the worst with the 2016 level.

 

In the first forecast of the Statistical office of Turkey's wheat production in 2020/21 MG was estimated at 20.5 million tonnes, which is 7.9% higher than the previous season.

Visitors’ comments (0):