World wheat prices continue to decline

the stock exchanges are U.S. wheat prices yesterday fell 1%. The market remains under the influence of the January USDA report, experts which suddenly increased the acreage of winter wheat in the United States and once again confirmed the huge volume of the world's supply of grain.

Recall that the estimation of the planted areas under winter wheat in the United States decreased to the lowest since 1909 level 32,608 million acres, although market participants were willing to lower rate.

March wheat futures in Chicago fell to the lowest level of the month.

the Euro, which had updated its three-year high, on Tuesday fell slightly, but couldn't hold on quotes of French wheat from falling. The market crushed by falling prices in Chicago and the poor export demand for European grain.

Disappointing were the results of the Egyptian tender where GASC bought 295 thousand tons of Russian wheat at a price slightly higher than last week.

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• March delivery milling wheat on MATIF fell by 1.5 €/ton and hit a new low of 154.5 €/t (188,99 $/t).