He expects the price of wheat in the season 2017/18?
In comparison with the current season, when world wheat crop amounted to 754,3 million tonnes in 2017/18 MG it can be reduced to 735,9 million t. Recall that in 2015/16 in the world gathered 737,7 million tons of wheat in 2014/15 my – 730,2 million tonnes in 2013/14 my – 717 million tons.
the market will crush a record carry-over stocks of 240 million tons.
Organization of the European grain traders (COCERAL) through the dry spring weather in Germany, France and Spain have reduced the forecast production of soft wheat 144.8 million to 142 million tonnes (which is still higher than in the current season of 135.5 million tons), and solid – from 8.4 to 8.1 million tons (versus the current 9.7 million tons).
the First results of the harvesting campaign in the United States show a deterioration in the quality of wheat and decrease yields.
On a global basis during the last week wheat prices remained virtually unchanged.
Soft wheat in the U.S. rose by $ 1 to 183 $/t European wheat FOB Rouen fell by 0.2% to 185,7 $/t Price of Russian wheat on FOB - Black sea remained at the level of 187 $/MT for food grains and 167 $/t for feed, on FOB - Azov sea respectively 173 $/t and 157 $/t In Ukraine, the price of wheat is 185 $/t, feed wheat – 175 $/t.
Ukrainian wheat of the new harvest during the week, prices have appreciated by 1-2 $/MT and now are:
- 2 class 12.5% of 155 to 157 $/t,
- class 3 11.5 per cent 151-153 $/t,
- forage 144-145 $/t
the Increase of wheat exports compared to the previous season by 1 MMT led to a reduction in carryover and helped to strengthen prices. On 01.05.17 reserves amounted to 3,873 million tonnes, 21.8% less than last year.
the wheat crop Forecast in Ukraine reduced to 25 million tonnes against collected in 2016/17 MG 26.4 million tons.
Experts predict that the price of wheat of the new harvest will start from the minimum level during the first half of the marketing season will rise to this level.