Wheat prices collapsed on data from the updated USDA report

2021-05-14 12:02:46
Machine translation
Wheat prices collapsed on data from the updated USDA report

< span style="font-size:14px;">the increase by USDA experts in the May report of the forecast of global wheat production in 2021/22 MG to a record level led to a sale of exchange contracts and a collapse in prices.


< p> < span style="font-size:14px;" > July US wheat futures were trading yesterday under the pressure of a bearish balance with a record global wheat harvest in 2021/22 mg and high estimates of final US wheat stocks. Investors were taking profits after the recent renewal of multi-year highs in July contracts. Additional pressure on prices was added by forecasts of heavy precipitation in certain areas of the US wheat belt in the southern American Plains and a further depreciation of the dollar.



< span style="font-size:14px;">weekly export sales of wheat from the United States did not add optimism to traders, which amounted to only 30 thousand tons of old wheat and 268 thousand tons of new wheat. Actual exports for the week amounted to 523 thousand tons, and in general in the season reached 23 million tons, which is 1% higher than last year's pace.


July futures fell yesterday: < / span>< / p>

  • < li> < span style= " font-size: 14px;" > by 1 10.38/t to до 257.75 / t for soft winter SRW wheat in Chicago,< / span> < / li>
  • < span style= " font-size: 14px;" > by 1 12.12/t to до 241.68 / t for hard winter HRW wheat in Kansas City,< / span> < / li>
  • < span style="font-size:14px;" > by 8 8.91/t to.272.36/t for hard spring hrs wheat in Minneapolis.


< span style="font-size:14px;">Black Sea wheat on the Chicago Stock Exchange continued to fall in price:< / span> < / p>

  • < span style="font-size:14px;">July futures fell 7 7.5/t to 2 268/t,< / span> < / li>
  • < span style="font-size:14px;">August-by 1 10 / T to 2 265/t.< / span> < / li>


< span style="font-size:14px;" > the European Exchange reacted sharply to the data of the May USDA report, especially to the forecast of a high wheat harvest of 85 million tons in Russia, which is the main competitor of the EU.


  • < span style="font-size:14px;">September wheat flour futures for MATIF fell 9.5 € / t to 216 €/t or 260.62 € /t.< / span> < / li>


the Russian agency SovEcon on Thursday, following the USDA, increased its forecast for wheat production in Russia in 2021 from 80.7 to 81.7 million tons. < / span> < / p>

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