Wheat prices under pressure of cheap black sea grain
the World's wheat exchanges remain under pressure cheap grain from the black sea region, although the fundamentals indicate rising prices in the long term, and this confirms the increase of long positions on wheat.
Russia in the current my exported 9.8 million tonnes of wheat, which is 54% higher than the corresponding period last year. High prices and possible restrictions accelerate the pace of exports.
France compared to the previous MG increased exports of wheat by 11% to 1.4 million tons of Price support data on exports and dry weather in the EU on the eve of sowing of winter crops, whereas on exchanges in the United States continues the decline.
- the December futures for milling wheat on the stock exchange in Paris fell by 0.5 €/t to 197,75 €/t or 228,73 $/t
Improved weather in some countries-exporters of wheat and low export demand has lowered on Friday the quotations of December contracts on exchanges in the United States.
Traders were waiting for report USDA, which will determine the future price trend.
December futures U.S. wheat fell:
0.73 $/t to 189,14 $/t for solid winter HRW wheat in Kansas city
0,64 $/t to 209,44 $/t on a firm spring HRS wheat in Minneapolis.
- 0,92 $/t to 187,85 $/t for SRW soft winter-wheat in Chicago