Quotes of wheat in the United States fell to a three-month low

Yesterday, the price of wheat, soybeans and soybean oil on the US stock exchanges has fallen sharply since speculators closed trading positions on forecasts of increased production and reduced demand. In addition, most buyers reduces activity in anticipation of lower prices for the new crop.

Investors in the United States conducted a mass sale in anticipation of the release of the USDA report forecast acreage and quarterly stocks estimates, so wheat courts ended the fall. According to independent experts, the forecast of areas of sowing wheat in the new report can reach 44,971 million acres, which is 1.4% higher than last year's figure.

Second day in a row the market pushes the strengthening of the dollar, which rose against the Euro to 1,174 $/€.

May futures declined:

• by 5.51 $/t to 221,10 $/t for SRW soft winter-wheat in Chicago,
• by 4.04 $/t to 205,21 $/t for solid winter HRW wheat in Kansas city,
• by 3.31 $/t to 221,10 $/t on a firm spring HRS wheat in Minneapolis.

the good wheat crop not only exporters but also importers continue to lower the price of grain from the new harvest.

Pakistan began to gather the wheat harvest 2020/21 MG. According to estimates by the Federal Ministry of food security, the yield will be 26.5 million tonnes compared to 25.2 million tonnes, which will fully meet their needs. In 2020/21 MG, the country imported 2 million tons of wheat, mostly black, to reduce its external deficit.

Yesterday August futures black sea wheat traded in Chicago for 229 $/t, with the result that the forward rates on the supply of Ukrainian wheat in the port in July decreased to 215 $/t

bid Prices of Russian wheat dropped to 255 $/t FOB, and bid up to 240-245 $/t FOB.

• Under their pressure may futures for milling wheat on MATIF fell by €1/t to 209,75 €/t or 245,66 $/t

Following the black sea wheat prices on the Australian wheat for delivery in may – June fell to 260-270 $/t FOB.

the price of wheat to Asia in July fell to 270-280 $/t CIF, which increases pressure on corn prices, which are still remain at 290 $/t CIF.