Wheat prices on world stock exchanges remain high due to a possible decline in the harvest in Canada

2021-08-25 12:06:29
Machine translation
Wheat prices on world stock exchanges remain high due to a possible decline in the harvest in Canada

Global wheat exchanges have been trading with slight changes since the beginning of the week, as traders expect more detailed data on the wheat harvest in the main exporting countries-Canada and Russia.


Intrigue with wheat production in Russia is subsiding, as the Ministry of Agriculture has resumed publishing operational data on the harvesting process. As of August 24, 62.7 million tons of wheat with a yield of 3.11 t/ha were threshed from 20.2 million hectares or 70% of the area. It remains to thresh another 8.6 million hectares of spring wheat, which even with a yield of 1.8 t/ha will amount to another 15 million tons, so that the gross harvest will exceed 78 million tons.


Forecasts for wheat production in Canada continue to decline. According to the average estimate of analysts, it will amount to 22.6 million tons, which is 1.4 million tons lower than the August forecast of the USDA and 12.58 million tons lower than last year's harvest. The market is waiting for the StatsCan report, which will be released on August 30 with updated official crop forecasts.


In the United States, as of August 22, spring wheat was harvested on 77% of the area, up from 46% a year ago and 55% on average over 5 years.


September futures were trading at Friday's level:

  • soft winter SRW wheat in Chicago fell by 0 0.64/ton to Чикаго 263.8/ton,
  • HRW hard winter wheat in Kansas City remained at 2 258.7/ton,
  • hard spring HRS wheat in Minneapolis grew by 2 2.2/ton to 3 341.7/ton.


MARS experts in the August report due to adverse weather conditions in Germany lowered the forecast of wheat yield in the EU from 6.05 t/ha to 5.98 t/ha, which is still 4.8% higher than last year's figure and 5% higher than the average 5 - year figure. For Germany, the yield estimate was lowered to 7.72 t/ha compared to 7.82 t/ha last year.


  • September futures for European wheat fell by €1/ton to €272.75/ton or €320.3/ton from Monday, although they rose by € 27/ton overall over the week amid low sales and the quality of French wheat. In addition, September futures close on September 10, so traders will not be able to buy wheat in the physical market.
  • At the same time, December futures rose by €2/ton in two days, although in general, for the week they fell by €5/ton to €246.5/ton or.289.5/ton.

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