Wheat prices for old and new crop tenders are gradually growing

the Recent rainfall in the major producing countries of grains lower prices for wheat, soy and corn, which reached multi-year highs.

the results of the last tenders demonstrate on the one hand limited the volume of purchases of grain of the old crop, and with another – growth of prices for grain from the new harvest, which indicates the absence of importers, expectations for a significant decline in prices in the new season.

Yesterday, the Algerian Agency OAS purchased in the tender 390 thousand tonnes of food (presumably European) wheat for delivery in February at a price 313-314 $/t CFR, which is 21-22 $/t higher than the price on 31 December, when it was acquired 300 thousand tons of wheat at a price 291-292 $/t CFR.

the Ministry of industry and trade of Jordan at yesterday's tender bought 120 thousand tons of Romanian milling wheat for delivery in August, 2021 at a price 277,5 $/t C&F, which on an $8/ton higher than the price of previous tender.

On the stock exchange in Chicago quotes fell yesterday, as traders held speculative sales and recorded net profit after the prices updated multi-year highs. Market cool rains that fell in the agrarian areas of the American Plains and reduced for a long period of soil moisture deficit.

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

the

by 2.57 $/ton to 234,05 $/t for solid winter HRW wheat in Kansas city

to 2.20 $/t to 234,24 $/t on a firm spring HRS wheat in Minneapolis.

• 1.65 $/t to 245,35 $/t for SRW soft winter-wheat in Chicago

the price of French wheat after 9 days of growth turned down in the background of the outcome of the tender in Algeria, where, owing to the high prices, the volume of procurement of wheat was twice lower than usual.

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• the March futures for milling wheat on MATIF fell by 1.75 €/ton to 234 €/t or 283,75 $/t

in the Near future on the price of wheat can be affected by the news from Russia, where the Association of agricultural producers appealed to the government to cancel the duties on grain exports. In contrast to Argentine farmers, the Russian manufacturers will not strike, but may make the government cancel the increase in fees from March 1 and extend it for the new season.

At the meeting of the operational headquarters to monitor the situation in agriculture and in the food market said that after the limitation of maximum prices for sugar and sunflower oil, the Russian government plans to impose strict price controls on grain and pasta.