The price of wheat before Christmas remain stable
in the absence of fundamental factors in the wheat market this week will remain stable, and traders in anticipation of the holidays will close short positions.
the Pace of wheat exports from the US and the EU are quite high, and warm winter contributes to the development of winter wheat crops.
Last holiday day of the French wheat market made up plus. On the background of active wheat exports from the EU and the rise in price of Russian wheat traders held speculative purchase. Tuesday and Friday will be a short working dnai, and on Wednesday and Thursday, the exchange will not work.
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- the March wheat futures on the MATIF rose yesterday by 0.75 €/t 187 €/t or 207,33 $/ton, whereas a year ago they traded at 206 €/t or 235,9 $/t
a Decline in prices for European wheat has led to a dramatic increase of EU exports in the current season 67% higher than last year and amounts to 13.4 million tons.
the Chicago stock Exchange started the week speculative sales. After the updates last week, prices 6-month high investors the 4th consecutive session to close contracts.
Weekly export sales exceeded expert expectations and amounted to 578,458 thousand tons and since the beginning of the season exports amounted to 14.2 million tons, which is 15% higher than the 2018 on that date.
the March wheat futures in the U.S. fell:
1.38 $/t to 168,47 $/t for solid winter HRW wheat in Kansas city (187,21 $/MT a year ago).
- 1.01 $/t to 198,23 $/t for SRW soft winter-wheat in Chicago (192,35 $/MT a year ago),
Rose by 0.18 $/t to 197,40 $/t hard spring HRS wheat in Minneapolis (208,7 $/MT a year ago).
Russia for a week have reduced wheat exports to 567 thousand tons, and from the beginning of the season has sold 20.2 million tonnes, which is 14% below the corresponding period last year.
in anticipation of the long holidays buyers are in no hurry to buy Russian wheat with protein of 12.5% at a high price – 220 $/t FOB, although last year on the same date the price of it was $ 235 to 238 $/t FOB.
