World wheat prices continue to decline
on Tuesday, the rate of decline of quotations of wheat in the United States accelerated.
Traders are not happy with the decrease in weekly export sales of 600 thousand tons in the previous week to 451 thousand tonnes in the current.
Additional pressure on prices was exerted by the results of the inspections in North Dakota, where losses from drought was much smaller than expected.
As of 23.07.17 the proportion of spring wheat crops are in good or excellent condition fell by 1% to 33%.
September quotes of the American wheat have decreased:
- by 5.42 $/t to 174,16 $/t for SRW soft winter-wheat in Chicago
- by 5.42 $/t to 173,70 $/t for solid winter HRW wheat in Kansas city
- by 12.13 $/t to 263,63 $/t on a firm spring HRS wheat in Minneapolis.
Stock quotes of French wheat on Tuesday fell to a month low. The acceleration of the fall of the Chicago stock exchange even more pressure on prices.
Disappointing were the results of yesterday's tender in Egypt, where French grain isn't even in the shortlist for the best deals. The Egyptians acquired 420 thousand tons of wheat from the Romanian and Ukrainian origin.
the strong Euro reduces the competitiveness of European grain in comparison with the black sea and us wheat.
- September wheat quotations on the MATIF in Paris has fallen by 0.75 €/t to 168,25 €/t or 196,115 $/t