Wheat prices renewed their multi-year lows

2019-09-04 12:03:46
Machine translation
Wheat prices renewed their multi-year lows

entering the markets of the new crop of wheat continues to weigh on the stock market.

 

to boost export of European soft wheat, due to the depreciation of the Euro, failed to support prices, which have fallen on the news about an increase in the forecast of wheat harvest in the EU 141,3 to 142.7 million tons.

 

  • December f’usersi French wheat fell 0.75 €/ton to 16-month low of 166 €/t or 182,16 $/t

 

U.S. markets started the trading week sharply lower. December wheat futures in Chicago have renewed a 3-month low. The reason for also become a record volume of world wheat supply in 2019/20 Mr and low export demand. At a time when most of the producer countries collect significant yields of wheat, the main importers have closed a significant part of the necessary, and now buying on demand.

 

Prices do not support any increase in weekly wheat exports from the United States by 4.26% to 526 thousand tons, which is by 28.5% more than the same period last year. The total export of wheat is 6.6 million tonnes, which is 24% higher than the corresponding figure 2018

 

the strengthening of the dollar to the maximum of 28 months of further pressure on prices.

 

the December wheat futures in the U.S. fell:

by 5.51 $/t to 140,45 $/t for solid winter HRW-wheat in Kansas city

by 3.58 $/t to 178,94 $/t on a firm spring HRS wheat in Minneapolis.

  • 3.31 $/t to 166.63 kop $/t for SRW soft winter-wheat in Chicago

 

Export prices for Russian wheat with protein 12,5% fall 5th week in a row. Now the price proposals for the supply of Sep make 188-189 $/t FOB, while the bid price remain at 185 $/t FOB.

 

the price of Ukrainian wheat with protein 11.5% of the amount 183-185 $/t FOB, but the demand for it is low because French wheat with protein 11% offer for 180 $/t FOB Rouen.

 

Turkish news Agency TMO to tender September 3, acquired 250 thousand tons of soft wheat with a protein 12.5% and 13.5% price 194-204 $/t CFR (depending on port of destination and quality of grain), which is significantly lower than the purchase price of the March tender when it was purchased 270 thousand tons of wheat at a price of 240 $/t CFR.

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