Wheat prices are guided by the export performance
In Thursday trading on the French wheat market ended in the neutral zone. Pressure the Euro, which continues to strengthen, were offset by rising prices in Chicago, where he finally ended a three-day drop.
Export soft wheat is causing great concern in Europe. Exporters of French wheat realized that they were not able to compete with Russia at the Egyptian market, so we have auctioned only one application at a noncompetitive price. In General, in the current my exported 5.7 million tons of soft wheat, which is 31% less than the previous season.
- December futures milling wheat on MATIF remained at 161,5 €/t (191,21 $/t).
the Amount of weekly exports of U.S. wheat increased relative to the previous week three times and amounted to 615,4 thousand tonnes, despite the expectations of experts 450 thousand tons Good export supported wheat prices in Chicago.
December quotations of wheat in the U.S.:
for hard wheat HRW in Kansas city by 0.46 $/t to 157,72 $/t,
hard spring wheat HRS in Minneapolis by 2.11 $/t to 226,25 $/t
- soft wheat SRW in Chicago by 1.01 $/t to 159 $/t,
In Ukraine, wheat exports remains at the level of the previous year. Minagropolitiki and participants of the grain market on 18 October, signed an Addendum to the Memorandum which are agreed volume of wheat export in 2017/18 MG:
the export of wheat to 10.7 million tons,
feed wheat exports at 5.8 million tons.
- the total volume of wheat exports will amount to 16.5 million tons, including
the possibility of a review in exports of feed wheat in January 2018.
Russia has already exported 20% more wheat than last year. Analysts SovEcon downgraded its forecast for Russian wheat exports in 2017/18 MG to 33.9 million tons.