Wheat markets in anticipation of harvesting in major exporting countries
on Friday major wheat exchanges saw a decline in prices on the back of profit taking by traders as well as pending data on the results of yields in the major exporting countries.
In Ukraine, as of July 16, removed 36%, or 2.4 million tons of winter wheat and harvested 8.3 million tons with an average yield of 3.46 t/ha.
Promotion and collection in the Central and Western regions of Ukraine, increases the supply of wheat, but lower yields than expected, farmers in these regions are holding back sales amid rising purchasing prices in the ports.
the Purchase prices for Ukrainian milling wheat rose to 192-195$/t or 6300-6350 UAH/t with delivery to the port and offers on FOB basis rose to 206-208$/t FOB with delivery in August.
wheat Exports from Ukraine for the week amounted to 141 thousand tons, and from the beginning of the season 2020/21-159 thousand tonnes, which is 51% lower compared to the same period last year.
As of July 17, in Russia wheat throughout the areas of 7.1 mln ha, harvested 24.4 million tons of grain with a yield of 3.43 t/ha (in 2019 to 3.75 t/ha).
the Russian wheat Exports for the week amounted to 377 thousand tons, while the total exports from the beginning 2020/21 MG is 475 thousand tons, which is 38% lower than in the previous year on the same date.
Wheat area of Paris and on Friday continued to decline. Most of the traders took a wait and see position, hoping to soon see a more complete picture on the yield of French wheat. Meanwhile, the fee goes at a fast pace and currently, thanks to good weather has already passed equator, and as of July 13 in France, was removed 47% of winter wheat, compared to 25% in 2019 as at the same date.
September quotes milling wheat on the Paris stock exchange MATIF fell by €1.00 to 184,75 €/ton (211,13 $/tonne).
on Friday, the wheat area of Chicago continued to record profit after 2.5 month peak reached on Wednesday.
Also up for auction was affected by the news that at key Kansas the winter wheat harvest is nearing completion. Today, traders await the release of the data cleaning and condition of crops For the week that will add extra impact on the markets.
September quotes of the American wheat have decreased:
- soft Wheat SRW in Chicago by $ 0.18 to 196,48 $ / ton;
- hard Wheat HRW in Kansas city remained at the level of 164,88 $ / ton;
- hard Wheat HRS in Minneapolis by $ 0.92 to 188,40 $ / ton.