Wheat prices under pressure from strong Euro and weak exports
on Monday, the December futures of soft wheat in Chicago continued to decline. The reason was the sharp decline in exports of U.S. wheat.
On the USDA checked with the purpose of further export 344,721 thousand tons of wheat, which was below the upper level of the expected 400 thousand tons since the beginning of the season for export inspected 12,342 million tons of wheat, which is 6% lower than in the same period last season.
the December U.S. wheat futures fell.
- 2.30 $/t to 150,46 $/ton, soft wheat SRW in Chicago
- by 2.66 $/t to 149,64 $/t for hard wheat HRW in Kansas city
- 4.96 $/t to 224,13 $/t for hard spring wheat HRS in Minneapolis.
the Market for French wheat on Monday followed the Chicago. In addition, it continues to push the Euro, which still is strengthened.
Traders hope for a positive outcome of the Algerian tender, which should take place Tuesday.
- December futures milling wheat on the Paris MATIF fell by 0,75 €/t up to 157 €/t (187,13 $/t).
with the decline in world prices of Egyptian operator GASC announced a tender today to buy at least 55-60 thousand tons of soft milling wheat with delivery in the period 10-20 January 2018.
Likely that the winner will become the Russian wheat, despite a threat of radiation contamination.
the Decline in world prices led to a decrease in prices for Ukrainian wheat.
Today, wheat traders offer in the port:
feed wheat 165-167 $/t or 5200-5300 UAH/t
- wheat protein 12,5% 170-175 $/t or 5400-5500 UAH/t,
- wheat protein 11.5% of 168-172 $/t or 5300-5450 UAH/t,