The price of wheat observe the actions of the importers

Wheat market watches importers in anticipation of price targets for new crop.

Today, the Egyptian GASC plans to purchase not less than 55-60 thousand tons of soft milling wheat with delivery 22-31 July, although only a week ago, held a similar auction.

the Futures contracts on soft wheat in Chicago after 6 days of growth fell slightly yesterday as traders began to fix profit. Despite the expectations of experts, the condition of the winter wheat crop deteriorated and poor condition of crops and low rates of germination of spring wheat are unable to maintain quotes in Minneapolis.

While the market ignores the significant lagging behind the pace of harvesting the winter wheat and forecast for the next week, precipitation in Kansas, which would slow down the collection and will degrade the quality of the grain.

the July wheat futures in the U.S. fell:

the

3.77 $/t to 170,95 $/t for solid winter HRW wheat in Kansas city

by 2.94 $/t to 202,91 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.94 $/t to 195,29 $/t for SRW soft winter-wheat in Chicago

the Weakening of the Euro against the dollar to 2-week low supported the prices of European wheat.

the

• September futures for milling wheat on MATIF fell yesterday for 1.75 €/t to 181 €/t or 202,66 $/t after raising forecasts for wheat production in the EU, and in particular in France, which may collect 38-39 million tonnes of soft wheat, up from 34 million tons last year.

In the South of Ukraine and Russia started the harvesting campaign of winter barley, and next week will collect winter wheat. Preliminary data on productivity will allow to adjust the production forecasts.

so far, the bid prices for wheat with protein 12,5% remain at 195 $/MT FOB Black sea, with a protein of 11.5% - $ 190 $/t FOB.

prices of feed wheat supports the growth of quotations of the old corn and new crop to the level of 180-185 $/t FOB. South Korean recycler FLC has acquired a batch of feed wheat supply of 20 August to 20 September at a price of 218$/t CFR, a manufacturer of animal feed MFG is looking for wheat delivery in December. If the world corn market situation does not change, feed wheat in the black sea region will cost a minimum of 175-180 $/t FOB.