Speculative decline in wheat prices under the Russian factor

2019-01-15 12:13:32
Machine translation
Speculative decline in wheat prices under the Russian factor

wheat Futures prices and cash market yesterday slightly decreased after the statement Mngos of Russia on the confirmation of forecast of exports at 42 million tonnes this season.

 

the Results of Russian wheat exports for the first half of the season was above expectations of traders at the level of 24.3 million tons, which is 13.5% more than last season with a record harvest of wheat.

 

the Forecast decline in Russian wheat exports in the second half of the season is not yet confirmed, since Russia actively sell the wheat in the new year tenders.

 

Quotes wheat at the Paris exchange MATIF fell by €1.00 to 203,75 €/ton or 234,09$/t due to low export rates.

 

last week, the EU imported the largest volume of wheat in almost a year 236,7 thousand tons, while exports amounted to only 15 thousand tons. The total volume of wheat exports from the EU from the beginning of the season at 26% behind last year's figures.

 

 

U.S. futures are also traded in the red zone on the background of the news from Russia, despite the increase of wheat exports from the U.S. last week 100% to 545,8 thousand tons, which is 29.26% more than a year ago. Total wheat exports from the United States since the beginning of the season was 13.5 million tons, which is 11.3% less than the same date last year.

 

the Message about reducing the quality of the wheat crop in Argentina is not yet supported, so on the stock exchanges on Monday intensified a speculative sale.

 

on weekends, the fields of winter wheat on the Us Plains has dropped a significant amount of snow. The thickness of the snow cover now allows not to fear for the condition of crops even in case of strong frost.

 

March quotes of the American wheat have decreased:

  • soft wheat SRW in Chicago by $1.93 and to 188,95 $/ton
  • hard wheat HRW in Kansas city for $2,02 to 183,35 $/ton
  • hard wheat HRS in Minneapolis by $1.65 to 207,78 $/ton

 

Prices for black sea wheat protein 12,5% also decreased slightly to the level 239-242$/FOB, and wheat protein 11.5% to 235-239$/FOB.

Visitors’ comments (0):