Wheat prices fell by 3.8-6%

2021-05-11 12:08:58
Machine translation
Wheat prices fell by 3.8-6%

< span style="font-size:14px;">yesterday, wheat prices on world stock exchanges fell sharply amid accelerated sowing and precipitation forecasts in major producing countries.


< span style="font-size:14px;" > according to the NASS USDA, the area of spring wheat sowing for the week increased from 49% to 70% compared to 40% last year and 51% on average for 5 years on this date.


< span style="font-size:14px;">spring wheat seedlings were obtained on 29% of the area compared to 15% last year and 20% on average over 5 years.


< span style="font-size:14px;">an increase in weekly wheat exports from the United States to 545.5 thousand tons supported prices. Traders recorded profits ahead of the release of the May USDA report, which is likely to once again increase the forecast of global production in the new season.


< span style="font-size:14px;">July US futures fell yesterday:< / span>< / p>

  • < li> < span style= " font-size: 14px;" > by 4.5% to 2 268.40 / t for soft winter SRW wheat in Chicago,< / span> < / li>
  • < span style= " font-size: 14px;" > by 5% to 2 258.30 / ton for hard winter HRW wheat in Kansas City,< / span> < / li>
  • < span style="font-size:14px;">by 6.2% to 2 276.70/ton for hard spring hrs wheat in Minneapolis.


< span style="font-size:14px;">Morocco will introduce a duty of 135% on soft wheat imports and 170% on durum wheat imports starting from May 15. This year, the country will increase wheat production by 206% compared to last year to 9.8 million tons, including soft wheat - up to 4.82 million tons, hard wheat - up to 2.34 million tons. it is also planned to harvest 2.6 million tons of barley.


< span style="font-size:14px;">Paris wheat fell in price yesterday despite active exports from the EU, which for the week amounted to 224 thousand tons, and in general in the season – 22.8 million tons, which is 25% lower than last year's pace.


  • on the Euronext exchange, September wheat futures fell 3.8% to €223.5/t or €271.38/t, and December futures fell 3.5% to € 222/t or € 269.57/t. < / span> < / li>


< span style="font-size:14px;">today in Ukraine and Russia, the work of enterprises begins after a long weekend, and data on spring wheat crops in the Russian Federation will affect the prices of Black Sea wheat.

Visitors’ comments (0):