Dry weather during the sowing of winter crops continues to raise wheat prices

2020-09-21 12:03:17
Machine translation
Dry weather during the sowing of winter crops continues to raise wheat prices

Rise in price of black sea wheat on the background of active procurement tenders last week led to a rapid increase in stock prices. At the end of the week, the speculators began to warm up the markets on data about the lack of rain in Argentina and unfavorable conditions for the sowing of winter wheat in Ukraine and southern Russia.

 

during the two-day rally, the December wheat futures in Chicago rose by 12.12 $/tonne to the highest since 21 February level due to the active procurement of investors.

 

December futures U.S.:

the

6.16 $/t to 185,28 $/t for solid winter HRW wheat in Kansas city

by 3.58 $/t to 202,55 $/t on a firm spring HRS wheat in Minneapolis.

  • by 6.89 $/t to 211,27 $/t for SRW soft winter-wheat in Chicago

 

December futures for black sea wheat rose 1.4% to 234,5 $/t

 

the Paris wheat exchange on Friday steadily grew on the results of the procurement tenders in the major importing countries and on the background of strengthening of the prices of Russian wheat.

 

the

  • December futures milling wheat on MATIF rose by 2.75 €/t to 194,5 €/t or 230,28 $/t

 

Russian analysts continue to raise forecasts of a wheat crop in the country. So, experts of the center of the Rusagrotrans was estimated at 82.8 million tons, the company "Prozerno" – 82 million tonnes, the Agency IKAR – at 82.8 million tons to complete the collection of evaluation can be increased by another 1-2 million tonnes. Traders continue to increase procurement prices in the ports on the background of strong exports, although the prices of offers of black sea wheat remain at 235-240 $/t FOB.

 

For the week, Russia increased wheat exports by 39% to 1.5 million tonnes, and in General in 2020/21 MG exported 10.1 million tons of wheat, which is 1% below the corresponding period last year.

 

Ukraine per week exported 867 thousand tons of wheat, and from the beginning of the season – 7 million tons.

 

the demand Price for wheat in Ukrainian ports increased to 215-219 $/t or 7300-7400 UAH/ton amid strong export demand and the containment of sales producers.

 

But at the end of the week, there were signals that the importers are not willing to pay too high a price. So, the Tunisian Agency ODC refused to buy a 42 thousand tons of wheat for delivery in October-November via the high bid prices, which accounted for 257,35-268,73 $/t CFR. But the Pakistani Agency of TSR canceled the tender for purchase of 150 thousand tons of bread wheat, because the prices of offers at $40/t higher than the purchase price of the previous tender, which was conducted a month ago.

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