Wheat prices continue to decline
Celebration of Easter has brought a lull in the world capital markets, but us markets fell yesterday despite the good export figures.
May futures wheat in Chicago yesterday updated its monthly minimum. Traders expect the new monitoring USDA confirm the good condition of crops of winter wheat. The prospects for future harvest pressure on the market.
Weekly wheat exports from the United States amounted to 811,1 thousand tons under the expert expectations on the level 375-575 thousand tons, However it will not allow to June 1 to export the predicted 25,72 million tons.
the May wheat futures in the U.S. fell:
3,03 $/t to 151,29 $/t for solid winter HRW wheat in Kansas city
by 5.14 $/t to 187,11 $/t on a firm spring HRS wheat in Minneapolis.
- 3,12 $/t to 160,11 $/t for SRW soft winter-wheat in Chicago
as a Result of low demand for Russian wheat with protein of 12.5% from Turkey and Egypt, which are the main buyers, prices for the first month dropped to 2-4 $/t 221-224 up to $/t FOB, although still quite high in comparison with other markets due to the low stocks of wheat in Russia and the high domestic prices. Wheat exports from the Russian Federation for a week decreased from 339 to 176 thousand tons.
the price of Ukrainian wheat is also declining and has fallen in the port below the level of 200 $/t a reduction in the number of buyers. Wheat exports from Ukraine over the week decreased by 62% to 207 thousand tons.
Today traders offer in the port for wheat:
with protein 11.5% of 194-196 $/t or 6150-6250 UAH/t,
feed 185-188 $/t or 5650-6000 UAH/t
- protein 12,5% 195-198 $/t or 6200-6300 UAH/t,