Speculators warm up the price of wheat in anticipation of increased sales

2021-04-09 12:02:39
Machine translation
Speculators warm up the price of wheat in anticipation of increased sales

Yesterday on world markets experienced a speculative growth quotes of wheat, caused by the intensification of sales of new crop wheat from the USA to China and the rapid increase in corn prices.

 

Traders not yet take into account the reduction in sales of old crop wheat and analysts about the increase in ending stocks of wheat in the United States. According to the average estimate of analysts, due to the increased consumption of wheat for animal feed instead of corn ending stocks of wheat in the world in 2020/21 MG will decrease by 2 million tonnes to 302 million tonnes, however, the U.S. will grow to $ 23.2 million tonnes, which is 0.45 million tons exceeds the March WASDE forecast.

 

Export sales of wheat from the U.S. last week fell by 86 percent to an annual low of 82 thousand tons, and in total, the season was 25,186 million tons of exports per week increased by 136% to 634 million tonnes,but only in the season amounted to 20.3 million tonnes projected 26.8 million tons.

 

at the same Time, the weekly sales of new crop wheat, thanks to China's purchase of a large batch of 260 thousand tons, exceeded traders ' expectations and amounted to 529,85 thousand tons, which is 4.5 times more than were sold over the same week of the previous season.

 

Quotes support dry weather, in some Northern States and increase the risk for sowing of spring wheat in the United States and Canada.

 

the May futures rose:

  • by 4.59 $/t to 231,02 $/t for SRW soft winter-wheat in Chicago,
  • by 4.87 $/t to 211,82 $/t for solid winter HRW wheat in Kansas city,
  • by 5.79 $/t to 239,25 $/t on a firm spring HRS wheat in Minneapolis.

 

European wheat yesterday rose in price after the American support of the results of the tenders in Algeria and Tunisia.

 

Algerian Agency OAS yesterday at the tender acquired 30-48 thousand tons of milling wheat for delivery in may at a price of $280/ton CFR.

 

Tunisian Agency ODC acquired 75 thousand tons of milling wheat for delivery in may - June at an average price of 260,7 $/t CFR.

 

  • the May futures for milling wheat on MATIF rose by 4.5 €/t to 211,75 €/t or 252 $/t, and the September – 2.25 €/t to 198 €/t or KZT 235.7 $/t

 

In the context of buyers the July futures black sea wheat on the stock exchange in Chicago yesterday. rose 1.6% to 232,5 $/t, and the September – 1% to 234 $/t

 

Thai recycler TFMA acquired 65 thousand tons of feed wheat for delivery in June at a price of 275 $/t CFR, which at $10/ton lower than suggested in the previous tender on March 31.

 

it is Expected that today's USDA report is neutral, or even "bear" character, and re-deploy wheat prices down.

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