The price of wheat falling under the pressure of increasing production
the Driver of the fall continues to be the American wheat market, which last month quotes has grown rapidly because of drought.
Precipitation in the United States, which reduced high temperature and improved the condition of corn and soybeans, the collapse of corn prices and become a factor of pressure on the wheat markets.
In the US, winter wheat has already been harvested on the area 88%, and spring wheat on the area of 9%, the quality of wheat is mainly good.
the Main pressure on prices had an unexpected increase in wheat production in Russia and Turkey. Russian Agency IKAR raised its forecast of wheat production in Russia to a record 74 -77 million tons With obmolocheno 28,5% of the area of winter and spring wheat received 35.2 million tonnes of grain with a yield of 44.2 kg/ha (in 2016 - 40,0 t/ha).
September quotes of the American wheat have decreased:
- soft wheat SRW in Chicago by 4.87 $/t to 169,48 $/t,
- for hard wheat HRW in Kansas city by 3.49 $/t to 170,95 $/t,
- on a hard spring wheat HRS in Minneapolis by 4.87 $/t to 263,82 $/t
the French wheat Market was under strong pressure from Chicago and the influence of further strengthening of the Euro against the U.S. dollar that rose to a maximum of two and a half years.
- September quotes milling wheat on the Paris stock exchange MATIF fell by 2.25 €/t to 166.00 €/t (195,94 $/t).
In Ukraine the increase of offers of the new crop continued cooling of the wheat market.
For wheat delivered to the port buyers offer: