The wheat market is watching Russia and Canada
If the EU and the US wheat harvest is complete and the analysts can see the quantity and quality of grain in Russia collected only half of the harvest, and harvested about 56 million tons of wheat projected 74 to 76 million tonnes. In Canada, in General, the harvest is just beginning. The country's Ministry of agriculture predicts that drought and the reduction of acreage, the wheat crop will decline to 26.4 million tonnes, which would be the lowest rate of the last 6 years. The production of durum wheat will be reduced by 35% to 5.1 million tons.
on Friday, wheat quotes in Chicago and Kansas city stopped the fall. The position of HRW wheat upheld the decision of the traders to pay in the physical market, increased premiums for grain protein is higher at 11.4%.
the September wheat prices in the U.S. rose
- soft wheat SRW in Chicago by 0.74 $/t to 152,85 $/t,
- for hard wheat HRW in Kansas city by 0.09 $/t to 152,30 $/t
Only the hard spring wheat HRS in Minneapolis has depreciated by 0.55 $/t to 245,72 $/t
Wheat quotations in Paris on Friday continued to fall and dropped to a new low. September futures since late July, has lost 14,4 €/t
the Main factor of pressure on prices remains forecast record wheat harvest in Russia and expectations of record exports.
- September futures milling wheat in Paris at the MATIF fell by 0.75 €/t to 155,75 €/t (182,96 $/t).
In Ukraine continues to become cheaper feed wheat, the price of which at the port fell below 150 $/t or 4450-4600 UAH/t. However, traders note a small number of offers of wheat at this price.