Wheat prices on world stock exchanges continued to strengthen

2021-11-12 13:12:52
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Wheat prices on world stock exchanges continued to strengthen

Yesterday, wheat prices continued to rise on world stock exchanges amid uncertainty with the supply of Black Sea wheat from the new year.


December Black Sea wheat futures on the Chicago SWOT added another.1.5/ton and reached a record level of. 354 / ton becoming the most expensive soft wheat on exchanges.


At the same time, the supply prices of Russian and Ukrainian wheat on the physical market remain at the level of F 330-340/ton FOB, since demand prices remain at lower levels, and buyers have the opportunity to buy European wheat at cheaper prices at the level of 3 320-330/ton FOB.


 December wheat futures on Paris Euronext also jumped 2.25 €/ton yesterday and reached a record level to 297 €/Ton (3 339.72/ton), but the depreciation of the euro still restrains the growth of prices for European wheat in dollars, and it is $15/ton cheaper than Black Sea Futures.


Wheat prices on US stock exchanges also rose yesterday despite a twisted trading day due to the veterans ' holiday, and today the market will receive information on export sales for the week, which may adjust prices. Precipitation forecasts in the southwestern United States Plains may improve the condition of winter wheat crops in the near future, which may ease pressure on prices.


December US futures rose yesterday:

  • by 3 3.49 / ton to Чикаго 299.6 / ton for soft winter wheat in Chicago;
  • by 3 3.85 / ton to 3 304.2 / ton for winter durum wheat in Kansas City;
  • by 2 2.57 / ton to.387 / ton for hard Spring HRS wheat in Minneapolis.


In Argentina and Australia, wheat harvesting continues, and supply prices are at the level of about F 300-320 / ton FOB, but continue to rise following European and Black Sea quotes.

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