Today will be the new trend of wheat prices for the next month

From today's WASDE report with the updated balance on wheat experts do not expect much change, except a slight decrease export Outlook for Ukraine and Russia and world ending stocks. Overall, thisit will be bearish in nature and will continue to put pressure on prices.

Weather in the Northern hemisphere in the main regions of cultivation of wheat remains favourable and allows to expect the formation of a good harvest 2020

in addition to the USDA report today on stock prices and the physical markets today, the impact of the tender in Egypt and Algeria.

today, the Egyptian GASC tenders for the purchase of at least 55-60 thousand tons of soft milling wheat with delivery from 21 to 31 March, which could be a new blow at the prices to the Russian wheat, especially given their high level and the victory of French wheat in the previous session.

Algeria and Jordan this week will also hold a tender for the procurement of milling wheat that can support the quotations at the European stock exchanges.

the Market for French wheat moves up on the wave of export optimism at the victory of Jan in Egypt, sales in China and hopes to tender in Algeria. Prices supports the weakening of the Euro to the minimum of 2.5 years 1,0909 $/€, which gives European wheat a competitive advantage over the Russian.

the EU exported a week of 208.3 thousand tons of wheat, of which 116,867 kt – Poland. Since the beginning of the season exports amounted to 17.5 million MT of wheat, which is 73% higher than the previous MG and 38% three-year average level. Prior to July 1, the EU will be able to export another 12-13 million tons of wheat, which is quite possible against the background of high prices for Russian psenicka the rest of the season can export 15 mln tons.

the

• March futures for milling wheat on MATIF rose by 1.5 €/t to 194,75 €/t or 212,52 $/t

In the US, Friday's speculative growth of the wheat market on Monday has changed the speculative drop in pressure to a sharp decline in the neighboring corn market.

For the week, the United States exported 523,7 thousand tons of wheat, and from the beginning of the season to 17.2 million tonnes, which is 12% higher than last year on this date.

Forecasters notice the initial phenomenon of drought in wheat areas of the U.S. Plains that could soon become a factor of price growth.

March wheat futures in the U.S. fell:

the

0.73 $/t to 196,12 $/t on a firm spring HRS wheat in Minneapolis.

• 2.48 $/t to 202,82 $/t for SRW soft winter-wheat in Chicago

Remained at the level of 173,61 $/MT of hard winter HRW wheat in Kansas city.