Speculators warm up the price of wheat in the United States
on Friday, the wheat market in the United States was influenced by weather factors. Powerful downpours in the South American Plains could harm the harvest of hard winter wheat. Rains in the Northern regions continue to delay sowing of spring wheat.
On the back of speculative purchases and closing by investors of short positions in July futures wheat in Chicago rose by 4%. On Monday the United States will be weekends, so the real situation will be known on Tuesday.
the July wheat futures in the U.S.:
by 6.15 $/t to 162,40 $/t for solid winter HRW wheat in Kansas city
by 5.05 $/t to 201,35 $/t solid spring HRS wheat in Minneapolis.
- by 7.07 $/t to 179,86 $/t for SRW soft winter-wheat in Chicago
Chicago stock exchange became a driver for the market growth of French wheat, but it has limited good prospects for the harvest of soft wheat in the EU, Ukraine and Russia.
According to the monitoring FranceAgriMer, as of may 20, 79% of sowings of soft wheat in France are in good or excellent condition as a week ago.
- the September wheat futures on the MATIF rose by 2.5 €/t up to 178 €/t or 199,46 $/t
Thanks to favorable weather conditions and good condition of the crops in Russia, the experts once again increased the forecast of grain production in the new MG. The new estimates to be significantly higher than 2018.
Intelligence "Prozerno" increased the forecast of grain production with up to 130.8 á of 129.5 million tons, including wheat – to 82.3 million tons Experts IKAR has raised its estimate of grain yield with up to 125,7 126.7 mln tonnes, including wheat – to 80.6 million tonnes, but not eliminate, under favorable conditions the production may amount to 133.8 U.S. million t the Russian grain Union in March announced that Russia in the current season will exceed the record set in 2017 – 135,5 million t, and until it leaves the forecast unchanged.