The price of wheat falls before the publication of USDA report
the price of wheat of the old and the new crop is expected from the may USDA report new factors, while the rains that took place in Ukraine and Russia has reduced anxiety regarding the fate of the next harvest. Expert opinions regarding the precipitation that fell in the EU and the black sea, divided. Some believe that the rains have improved yield prospects, others that the situation has not changed, and in the South of Russia and Romania part of crops of winter crops are lost forever.
on the Eve of the publication of the USDA report and the conduct of the tender in Algeria which plans to buy 300 thousand MT of wheat, trading on the stock exchange in Paris yesterday have been sluggish.
- September futures for milling wheat on MATIF fell by 0.25 €/t up to 188 €/t or 202,97 $/t
Traders worried about a possible decline in temperatures next week, especially in France, whereas the main crops are at a sensitive stage of development.
For the week, the EU exported only 200 thousand tons of wheat, and just season 29,148 million tonnes of soft wheat, which is 61% higher than the corresponding figure 2018/19 Mr.
For U.S. wheat exchanges investors before the publication of the USDA report conducted speculative sales, despite yield losses of winter wheat due to the freezing that weekend, the consequences of which have not yet had time to evaluate.
On the USDA for the week checked only 340,31 thousand tonnes of wheat intended for export, while experts expected it will be at least 400-650 thousand tons.
Prices do not support any reduction in the number of winter wheat crops in good to excellent condition by 2% to 53%, and low rates of sowing of spring wheat, which is planted on 10 may, only 42% of the area compared to 38% last year and 63% on average for 5 years.
the July wheat futures in the U.S. fell:
1,84 $/t to 174,53 $/t for solid winter HRW wheat in Kansas city
- 1.74 $/t to 190,05 $/t for SRW soft winter-wheat in Chicago
was Up 1.01 $/t to 190,60 $/t hard spring HRS wheat in Minneapolis.
In Ukraine the price of wheat in the ports falls upon completion of purchases by traders who do not open a new program because the volume of exports in the current season has almost reached certain Memorandum 20.2 million tons.