Speculators continue to rock the stock price of the wheat

wheat On US exchanges in the last days there are speculative "swing". After falling Tuesday on Wednesday prices rose as investors covered short positions and conducted technical buying ahead of the USDA report, which is expected to be bearish in nature.

the March wheat futures in the U.S.:

the

by 5.14 $/t to 202,45 $/t for solid winter HRW wheat in Kansas city

at 4.50 $/t to 204,11 $/t on a firm spring HRS wheat in Minneapolis.

• 4, 87 $/ton to 214,30 $/t for SRW soft winter-wheat in Chicago

French wheat for the second consecutive day in support of Chicago and the depreciation of the Euro against the dollar. According to the forecast of experts Coceral, the wheat harvest in the EU and UK in 2021-22 MG will grow by 11% to 143 million tonnes, as the crops of winter wheat in France, Germany and the UK will return to historical levels.

Friday the net long position on European wheat futures fell to 11-week low 84133 lots, because during the week, investors closed long positions 7584 and opened 5267 short, which confirms the lack of traders ' expectations on the growth of prices for European wheat.

Physical market of French wheat remains stable due to regular export shipments.

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• the March futures for milling wheat on MATIF rose 1.25 €/t to 202,75 €/t or 244,99 $/t

the Lack of factors of support for the global wheat market was confirmed by the results of the tender in Jordan, where the Ministry of trade and industry, after several weeks of failed attempts I bought 9 Dec 60 thousand tons of milling wheat for delivery in early may at a price 274,40 $/t C&F, which is by 5 $/MT lower than at the previous tender.

Continues the downward trend of wheat consumption countries, particularly tourist destinations that were affected by the pandemic. According to estimates of the USDA attaché, Thailand in 2020/21 MG imports 3 million tons of wheat, 0.5 million tonnes lower than in the last season and 100 thousand tonnes of November's USDA forecast. In particular, imports of milling wheat will decrease compared to 2019/20 MG 9% to 1.2 million tons.