Global wheat prices are falling
pre-Christmas seasonal drop in demand puts pressure on world wheat prices.
prices In Ukraine decreased by 2-3 $/t for wheat with protein 11.5% of traders offer in the port 169-170 $/t, and feed wheat – 165-166 $/t. the Market is still experiencing a "hot" demand for feed grain, but most of the traders have already acquired the necessary party and moved to the planned procurement.
a Limited number of offers of wheat with protein to 12.5% support price at the level of 175-176 $/t for deliveries to the port. The devaluation of the hryvnia against the dollar is compensated by the fall in world export quotations, so the producers almost do not feel the reduce the purchase price.
Stock traders do not see fundamental factors for the price increase, and therefore operate "on the decline" quotes. On Tuesday at the American session continued with a speculative drop.
in addition, amid disappointing weekly wheat export from the United States Agency ICAR downgraded its forecast for Russian wheat exports by 1.3 million tonnes to 35.3 million tonnes.
March U.S. wheat futures fell:
0,92 $/t to 158,55 $/t for hard wheat HRW in Kansas city,
1,01 $/t to 230,10 $/t for hard spring wheat HRS in Minneapolis.
- 0,92 $/t to 159,00 $/t for soft wheat SRW in Chicago
French wheat on Tuesday continued to fall behind Chicago. However, the pace of falling prices has become more slow due to the support of the Euro, which began to weaken.
- March delivery milling wheat on the Paris MATIF fell by 0.25 €/t to 161,5 €/t (190,98 $/t).