A record harvest in Russia and the improvement in the weather in Australia put pressure on wheat prices
According to the Russian agricultural agencies, as of 20 October 2017 from 95.3% of the area planted with cereals and legumes harvested to 133.5 million tons of grain with yield of 2,98 t/ha. In 2016 at the same date were collected 117 million tonnes of grain with a yield of 2.64 t/ha.
Winter and spring wheat from 27.2 million hectares (98,7% of the forecast), collected 87.6 million tons with a yield of 3.21 t/ha (in 2016, that date was harvested 75,7 million tonnes with a yield of 2.79 t/ha).
Experts of "Centre for grain quality assessment" surveyed 47.5% of wheat and determined that 24% of them accounting for the proportion of grain protein 12.5%, and 44.4 per cent of protein above 10%.
in addition to a good harvest in Russia on wheat prices pushing the improved weather conditions in Australia.
Dry weather in the US has stepped up the collection of soybeans and corn, which prices have decreased. And then on Friday fell and wheat prices. In such circumstances, the participants in the wheat market gave preference to speculative sales.
December quotations of wheat in the US fell:
for hard wheat HRW in Kansas city by 2.39 $/t to 155,33 $/t,
hard spring wheat HRS in Minneapolis by 1.65 $/MT to 224,59 $/t
- soft wheat SRW in Chicago by 2.48 $/t to 156,52 $/t,
On the European market on the one hand pressured world prices, that demand declines, and on the other the discontent of the farmers are holding grain in hope of higher prices.
- December futures milling wheat on MATIF fell by 0.25 €/t to 161,25 €/t (189,99 $/t).