Wheat prices supports the reduced forecast production in France
In Friday's report, the Agency Agritel crop of soft wheat in France was evaluated at the level 34,17 million tonnes, which would be the third worst figure of the last decade. The reduction of the area of collection and the fall in yields will reduce the gross collection in France and the General harvest of wheat in the EU. Weather conditions are favorable for collecting, and the quality of wheat is quite high.
- the September wheat futures on Euronext rose to 1.75 €/ton to 193 €/t or 225,39 $/t
Winter wheat in the United States are collected on 80% of the area. The average protein in solid chervonozorivtsi wheat is higher than last year, particularly in the States of Nebraska, Colorado and South Dakota average protein is 12,85 compared to 11.4% in 2017.
In good to excellent condition are 79% of spring wheat, which gives hope for a good harvest.
wheat Exports from the U.S. fell last week by 15.6% to 397,8 thousand tons, which is 21% lower than the level of last year.
the price of wheat in Kansas and Minneapolis yesterday continued rising, while in Chicago fell slightly.
In Ukraine, precipitation hinder the collection, over the weekend threshed only 3% of the area under wheat. As of 23 July with 67% of the area, and produced 14.3 million tons of wheat with a yield of 3.39 t/ha.
Promised by the end of the week precipitation put pressure on the food wheat market, which is rapidly rising on data on the deterioration of grain.
In Russia, the collection also delayed, and on the weekends threshed only 300 thousand hectares of wheat. As of 23 July, with 7.5 million hectares and produced 28.6 million tons of winter wheat and spring wheat with a yield of 3.83 t/ha (vs. 4.56 t/ha in 2017).