Wheat prices started the week in a rapid growth
Progress in trade negotiations between the US and China, as well as increasing export tax Argentina has allowed speculators to increase the stock price for wheat by 5%.
during the session, the March futures winter SRW soft wheat in Chicago rose 4.4% to 204,29 $/t, while the solid winter HRW wheat in Kansas city have risen by 5.3% up to 171,2 $/t, though at the end of trading prices somewhat slipped.
March wheat futures in the U.S.:
5.75 $/t to 168,40 $/t for solid winter HRW wheat in Kansas city
by 3.76 $/t to 196,95 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.78 $/t to 201,40 $/t for SRW soft winter-wheat in Chicago
Prices supported by data on weekly exports of wheat from the United States, which exceeded expert expectations and amounted to 506,3 thousand Since the beginning of the season, exported 13.5 million tons of wheat, which is 16% higher than the corresponding figure last year.
- March wheat futures in Paris rose yesterday at 3.25 €/t to 186,25 €/t or 205,36 $/t on the news of increased export duties in Argentina, which is the main competitor of French wheat in the markets of Africa.
Long-term rainfall in France not only prevented sowing of winter wheat planned areas, but can damage the crop in case of temperature increase. Experts warn that higher than normal temperatures of November in Eastern Europe has led to the fact that wheat crops were not in school, therefore, can suffer from winter frosts.
Prices patrias active wheat exports from the EU, who last week made 236,3 thousand tons and since the beginning of the season, 12.8 million tons, which is 68% higher than on this date last year.
Russia for a week has increased export of wheat by 136 thousand tons to 674 thousand tons, but in the whole season sold 19.6 million tonnes, which is 14% below the corresponding indicator 2018 After a preliminary deter sales manufacturers price increase to the expected level 215-220 $/MT FOB allowed activat export.
Ukraine per week reduced the export of wheat by 30% from 398 to 277 thousand tons, and from the beginning of the season sold 13.9 million tons of winter wheat sown areas in Ukraine decreased compared to the previous year by 11.8% to the lowest since 2014 level of 5.93 million hectares, which is 5% inferior to the average 7-year indicator.