Wheat prices expect new growth factors
Yesterday the price of wheat on world markets rose slightly against the background of the uncertainty of yields in major exporters and the statements of the Ministry of agriculture of Russia on prolongation of quotas for grain export in the new season.
Egyptian operator GASC today will hold a tender for the purchase of at least 55-60 thousand tons of soft milling wheat supply 8-18 August 2020, which will become the new indicator of price for black sea wheat of the new harvest.
the Ministry of agriculture of Russia plans in the new season to continue the practice of quoting of grain export, the parameters of which will be determined after the completion of the harvest, - said in an interview with TASS, the Minister of agriculture Dmitry Patrushev.
the French wheat Market has consolidated after reaching Friday's 3-week high. Traders to determine future price trends, a more detailed data on productivity of wheat.
On the average polled by Reuters 15 independent experts, composed of traders and professional analysts, the EU along with Britain in 2020 will gather of 131.3 million tonnes of soft wheat, down 10.7% to give the figure of the previous year, but 2.3% higher than the level of production arid 2018
Sharp rise of the Euro, supported by several quotations.
- September futures milling wheat on MATIF fell by 0.25 €/t to 182,5 €/t or 206,51 $/t
wheat Futures in Chicago rose yesterday, with the support of neighbouring markets of soybeans and corn, which grow due to a possible reduction in yields due to hot and dry weather in the Midwest of the United States.
the July wheat futures in the U.S.:
1.65 $/t to 161,12 $/t for solid winter HRW wheat in Kansas city
0.92 $/t to 188,40 $/t on a firm spring HRS wheat in Minneapolis.
- 0.46 $/t to 181,24 $/t for SRW soft winter-wheat in Chicago