The price of wheat waiting for new fundamental factors

the wheat Market is awaiting a new forecast balance USDA although experts do not predict for him. Drought reduced production in Australia will be offset by increased harvest in Russia.

the price of the future harvest pressure good pace of sowing winter wheat in major producing countries.

In the United States winter wheat planted 85% of space compared to 91% on average for 5 years. France planted 69% of the area of winter wheat and 76% of the area is winter barley, which is much higher than the level of last year and average 5-year average.

In Ukraine winter barley planted 100% of the area, winter wheat was 98% of the area.

In Russia winter crops planted 17.5 million hectares, or 100% of the target.

the State of winter crops is mostly good, although in Ukraine, France and the South of Russia there is a shortage of soil moisture.

Under pressure the Chicago exchange and the strengthening of the Euro, the French wheat market started the week with a fall.

• December futures on milling wheat in Paris fell by 0.5 €/t to 200,25 €/t or 228,41 $/t

Monday trading on the US exchanges ended in different directions. In Chicago December futures wheat has renewed the weekly high, then the speculators lowered their "red zone".

Exports of U.S. wheat fell last week by 17% to 327 thousand tons, which was below expert expectations.

the December wheat futures on US exchanges rose:

0.37 $/t to 213,66 $/t on a firm spring HRS wheat in Minneapolis.

• of $0.18/t to 185,46 $/t for solid winter HRW wheat in Kansas city

dropped by 0.55 $/t to 186,38 $/ton SRW soft winter-wheat in Chicago.

Russia for a week have reduced wheat exports by 28% to 589 thousand tons, which supported prices. This is due to increased control by the Rosselkhoznadzor for export terminals that conduct purchases without paying taxes. Last week for evasion of VAT, the court sought from 3 regional grain traders 1 billion rubles (15.3 million $).