Wheat prices in Chicago fell below the psychological level of$5/bushel
Fall in world prices for stocks, indices and oil, which started in the beginning of the week, yesterday I touched on the agricultural markets, which yesterday ended with minuses.
After rising slightly yesterday, the market for U.S. wheat on Wednesday collapsed due to poor exports and the pressure of speculative sales. The strengthening of the dollar against the background of problems with the Italian budget in the EU and the situation with Saudi Arabia also puts pressure on prices.
Experts believe that the recent higher forecast of wheat production in Russia and the strengthening of the dollar in the near future will improve the export of wheat from the United States.
the December wheat futures on US exchanges declined:
3.86 $/t to 182,61 $/t for solid winter HRW wheat in Kansas city
to 2.39 $/t to 212,56 $/t on a firm spring HRS wheat in Minneapolis.
- 3.49 $/t to 183,53 $/t for SRW soft winter-wheat in Chicago
Algeria yesterday at the tender purchased 500 thousand tons of French wheat at a price 256-258 $/t C&F that supported quotes on the stock exchange in Paris. Due to the depreciation of the Euro purchase price was 5-6 $/t lower than at the previous auction in September.
Tunisia bought 100 TMT of wheat for Dec - Jan for the price 253,97 $/t CFR, which is by 5 $/t higher than at the previous tender.
- December futures for milling wheat on the Paris stock exchange fell by 0.5 €/t 200,5 up to €/t or 228,5 $/t
Prices on black sea wheat remain the same, but the prices demand decreased slightly. The market expects Friday's meeting of the Minister of agriculture of the Russian Federation from exporters, which will determine the possible volumes of wheat export in the current season.
with the decline in world prices Egypt plans to hold a tender for the purchase of wheat.
Bangladesh announced a tender for the procurement of milling wheat, which is likely to win Ukrainian or Russian wheat.