Wheat prices don't stop falling
Forecasts a good harvest of wheat in the new season led to panic and fall of stock prices.
the leader of the weekly decline was the Australian wheat, which on the stock exchange in Sydney fell by 3.87%, while European wheat in Paris has lost over a week of 2.7%.
- the May wheat futures in Paris on Euronext fell on Friday to 2,5 €/t to 185,5 €/t or 210,96 $/t and continue to get closer to the quotations of the new crop 175-177 €/t
Traders do not believe in the competitiveness of European wheat on the background of falling world market, despite an active export shipments in the ports of France.
the Good pace of wheat exports from the U.S. slowed the drop in prices. Now exported 81% of predicted USDA volume, which is 1.5% more than last year, but it is lesss 94% of the average level for this date.
on Friday, investors continued speculative selling, through futures on soft wheat in Chicago has once again updated the historical minimum.
May futures in the US declined:
0.37 $/t to 205,12 $/t on a firm spring HRS wheat in Minneapolis.
- 0.83 $/t to 168,01 $/t for SRW soft winter-wheat in Chicago
Rose by 0,09 $/t to 163,41 $/MT of hard winter HRW wheat in Kansas city.
prices of Russian wheat continue to put pressure good conditions of wintering of winter crops and the beginning of the sowing campaign in the South.
the ICARUS Agency increased the forecast of wheat production in 2019 by 0.9 million tonnes to 78.5 million tonnes against 72 million tonnes in 2018/19 Mr.