Speculative growth of prices for wheat continues
After a three-day growth of wheat market in Paris on Friday ended in the red. On prices pushing the poor wheat exports from the EU, which for the week amounted to only 108 thousand tons and reached the start of the season 14,08 million tonnes against 18,17 million tonnes over the same period last year.
Tunisia to tender purchased 50 thousand tons of soft wheat (presumably of European origin) with a may delivery at a price 226,99 $/t CIF, which was below the purchase price of the previous trading session.
- May futures milling wheat on MATIF fell by 0.5 €/t to 163 €/t (201,48 $/t).
on Friday ended a 4-day growth of wheat ground in Chicago. After long fall the market has experienced a speculative price adjustment. Overall during the week the price of wheat in Kansas fell by 4.05% in Minneapolis – 1.47%, Chicago is 1.6%.
the Export of wheat over the week grew by 41.2% to 472,8 thousand tons, which is by 27.11% lower than in the same period last year.
forecasters Promised the next day a wave of rain may come around wheat regions suffering from drought.
the May futures for U.S. wheat has increased:
by 3.03 $/t to 176,09 $/t for solid winter HRW wheat in Kansas city
by 3.58 $/t to 221,47 $/t on a firm spring HRS wheat in Minneapolis.
- 1.65 $/MT to 169,11 $/t for SRW soft winter-wheat in Chicago
Snow and cool weather is holding back field work in Ukraine and Russia.
As of 23.03.2018 in Ukraine winter crops are fed on 29% of the area, in Russia – 17% of the area is 2.9 million hectares, while in 2017 this figure was 6.4 million hectares.